BTC Mining Difficulty Hits 81 tn In Pre-Halving Boost
Bitcoin mining difficulty has reached an unprecedented level of 81.73 trillion, surpassing 80 trillion for the Proof-of-Work consensus mechanism.
This increase is crucial for maintaining the target block time and was discovered on February 16, just two months before the Bitcoin halving event.
During the halving event, mining rewards for Bitcoin will be reduced, with the reward expected to drop from 6.25 BTC to 3.125 BTC.
This cut may cause the hash rate to drop, as less efficient miners may struggle to cover costs and eventually go offline.
Galaxy Digital analysts predict that up to 20% of Bitcoin’s current hash rate could go offline after the halving, leaving only the most efficient mining rigs standing. Bitcoin difficulty is expected to increase by an estimated 6%, potentially reaching a new all-time high above 80 trillion for the first time.
(With inputs from Shikha Singh)
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