Bitcoin mining difficulty has hit a new record, but a decrease is expected in the coming months due to changes in hash rate and blockchain mechanics.
Current Mining Difficulty Level
Bitcoin mining difficulty has reached 126.5 trillion, marking an all-time high. The next adjustment scheduled for August 9 is anticipated to decrease this figure by approximately 3%, bringing it closer to 123.7 trillion.
Causes of Difficulty Fluctuations
Mining difficulty experiences fluctuations closely tied to the hash rate—the total computational power allocated by miners to secure the network. In late June and the first half of July, difficulty dropped to 116.9 trillion before regaining momentum towards the end of the month.
Economic Model of Bitcoin
The recalibration of difficulty occurs every two weeks and helps maintain Bitcoin's scarcity while focusing on its quantitative characteristics. Approximately 94% of all BTC has already been mined, and new supply enters the market at a highly controlled pace.
Bitcoin mining difficulty, as a crucial aspect of its economic model, ensures predictable issuance and reinforces Bitcoin's status as one of the scarcest assets in the world.
