The mining difficulty of Bitcoin has posted a moderately large increase to set a new high following several months of relatively slower growth.
Data indicates that the network’s mining difficulty has adjusted to 23.14 trillion this morning, an increase of 5.82% compared to March 20th, when a new record was established. This new adjustment represents the highest gain (percentage-wise) since January 9th. It indicates that an important amount of bitcoin mining hardware has just hit the market and is now being used.
Further proof lies in the fact that the 14-day average hash rate on the bitcoin network has increased from 156 EH/s on March 20th to 165 EH/s. This indicates that all the miners that are securing the bitcoin network are making, on average, 165 million trillion times of hashes per second in order to calculate the right answer to mine a new block.
This newly-added 9EH/s of computing power over the previous two weeks represents what about 90,000 units of the newest generation of bitcoin mining equipment can deliver.
The spot prices of the newest batch of mining hardware have gone to hit even a five-fold premium in contrast to their preorder prices in November 2020 as a result of an increased level of demand and a shortage of chips on a global scale.