Bitcoin mining has hit a new milestone, with difficulty levels soaring to an unprecedented 1,423 trillion. This development, highlighted by CryptoQuant, signals a significant shift in the mining landscape as competition intensifies. The source notes that this increase in difficulty reflects the growing number of miners entering the market.
Bitcoin Hashrate Surpasses 11 Trillion Hashes per Second
The latest data reveals that the Bitcoin hashrate has surpassed 11 trillion hashes per second, driven by a substantial influx of newly deployed computing power.
Challenges Posed by Increased Mining Difficulty
This surge in mining difficulty poses challenges for both individual miners and larger corporations, raising concerns about the potential centralization of the Bitcoin mining ecosystem.
Concerns About Decentralized Mining Practices
As the barriers to entry increase, many are questioning the sustainability of decentralized mining practices in the face of such rapid technological advancements.
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