Bitcoin Mining Difficulty Hits New All-Time High

In the latest adjustment on the morning of October 24, 2022, Bitcoin’s mining difficulty surged by approximately 3.4%, setting a new all-time high.

The recent adjustment marks a modest increase compared to the 13% jump observed earlier this month.

Mining difficulty adjusts automatically every 2016 blocks, roughly every two weeks. This adjustment ensures that transactions are processed at a steady rate, regardless of fluctuations in the network's hash rate at any given time.

It’s worth noting that the increasing mining difficulty is an inherent feature of Bitcoin, and miners are well aware of this schedule. Historically, mining operations have been highly profitable. For October, the total revenue from Bitcoin mining is reported to be around $420 million.