Bitcoin Mining Difficulty Surges to All-Time High, Increasing by 5.6% This Past Weekend

This past weekend, the Bitcoin network's mining difficulty surged by 5.6%, reaching a new all-time high of 114.1 terahashes, according to data from CoinWarz. This adjustment, which automatically occurs approximately every two weeks, reflects a significant increase in the computing power dedicated to the network. The rise in difficulty follows a period of aggressive expansion by miners, with the hashrate reaching a new ATH of around 845,200 terahashes per second this past Saturday, according to Blockchain.com data. This increase means miners were processing blocks faster than the target of 10 minutes per block. As of today, Bitcoin is trading around $98,200, up nearly 4% over the last week.