Thursday, October 28, 2021
Home Crypto News Market Bitcoin Mining Difficulty Gets Biggest Drop In BTC History

Bitcoin Mining Difficulty Gets Biggest Drop In BTC History

- Advertisement -

According to data, the Bitcoin network adjusted to the massive drop in hash rate, the network’s mining difficulty dropped by -27.9%. This is the biggest drop in mining difficulty since the network went live in 2009.


The Bitcoin network updates its mining difficulty level every 2,016 blocks, roughly every two weeks. This is designed to ensure that blocks are produced every ten minutes despite a fluctuating hash rate. For this reason, the hash rate has been volatile throughout Bitcoin history. Since the previous adjustment on June 13, Bitcoin’s seven-day moving average hashrate has dropped from 136.47 EH/s to 85 EH/s: a 35% drop.

Recently Bitcoin network faced two negative adjustments, -5.30 percent on June 14 and -15.97 percent on May 30, And on July 3rd, 2021 the network’s mining difficulty dropped by -27.9%.


Estimated next BTC mining difficulty, which will be calculated after 16 days hints further -28.39% drop.

BTC mining difficulty which is a measure of how difficult it is for miners to mine a new block and add it to the blockchain dropped from 19.93 trillion to 14.3 trillion in less than a month.

This decline was largely due to a crackdown on Bitcoin mining in China. Saturday’s record decline was by a much higher percentage than had been predicted a week ago.

The said low hashrate led to a slower block generation rate as the remaining hashrate could not keep up with the high difficulty level. For the past two weeks, according to calculation, blocks have been produced on average almost every 13.9 minutes, which is much higher than usual. On July 1, it even took 129 minutes to create a block, the longest since 2011, but it’s worth noting that multiple factors come into play here, including the natural variance in block times.

- Advertisement -
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

El Salvador purchased additional 420 bitcoins

President Nayib Bukele of El Salvador said on Wednesday that the El Salvador government has purchased additional 420 bitcoins, which brings the total amount...

Shiba Inu Surpasses Dogecoin For The First Time Ever, Shib Becomes First Meme Token To Live Up To The ‘DOGE Killer’ Title

Shiba Inu is now officially the biggest canine coin after surpassing Dogecoin. window.coinzilla_display = window.coinzilla_display || ; ...

MoneyTree Announces the Launch of its NFT Store on Lootex

London, England / October 27, 2021 / MoneyTree, a truly deflationary and fully decentralized gaming token, announced the launch of its NFT store on...

Dubai Financial Regulator Approves Bitcoin Fund Which Is First Registered Product Of Its Kind In The Middle East

Launched by Canadian firm 3iQ Digital Asset Management, the Bitcoin Fund (QBTCu.TO) is the first registered product of its kind in the Middle East.

DOGE Lost Its 9th Position & Slips to 10th By Means of Market Capitalization, Is DOGE Going to Dump and SHIB Going to Pump?

USD Coin (USDC) has just surpassed doge by means of market capitalization. DOGE is standing at $31,026,080,066. ...

TurboXBT Is Introducing Short-Term Synthetic Digital Asset Trading

TurboXBT is delighted to introduce a next-generation cryptocurrency trading experience for both professional and beginner users. By leveraging short-term contracts of synthetic assets in...

Brazilian Giant 99 To Enable Bitcoin Trading On Their 99Pay App

Coindesk report Brazilian 99Pay wallet users will be able to make commission-free transactions in bitcoin. Read: FDIC Chairwoman Says US Regulators Are Exploring Policies For...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.