Bitcoin Mining Difficulty Just Saw its Second-Largest Drop in History

The crypto market’s prolonged decline has finally begun to manifest in the bitcoin mining industry, which had at times seemed impervious to falling prices but is now experiencing a moderate exodus. Bitcoin Hash Rate Begins Rare Decline At a basic level, miners produce Bitcoin blocks by competing to solve complex mathematical problems. When the hash rate increases, blocks are found more quickly, while the converse occurs when the hash rate declines. To maintain a consistent block time of ~10 minutes, Bitcoin automatically adjusts the difficulty of these problems at roughly two-week intervals to account for new machines entering or exiting … Continue reading Bitcoin Mining Difficulty Just Saw its Second-Largest Drop in History