Bitcoin mining difficulty jumps a second time as miners settle offshore
The mining difficulty of the network took a dive after China had announced a crackdown on mining operations, which at its peak contributed to three-quarters of the global hash rate. The latest data from BTC.com shows an ongoing spike in Bitcoin’s mining difficulty starting from June 17, 2021.
As miners from China slowly settle down in crypto-friendly countries, the Bitcoin ecosystem witnessed a 13.77% increase in mining difficulty in two consecutive jumps, exceeding 15 terahashes (TH) for the first time since the second week of June. The next adjustment is expected to commence on Aug. 27, estimated to surge the difficulty to 15.63 TH.