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Jafrin Ahmed
May 14, 2022
by Jafrin Ahmed

Bitcoin Mining Difficulty Reaches All-Time High Despite Bear Market

Bitcoin mining
Bitcoin may be in a bearish market, but the network has established a new mining difficulty all-time high of 31.251 trillion, exceeding the 30-trillion mark for the first time ever.

Bears Can't Keep Bitcoin Miners Away

Even though Bitcoin's (BTC) price has dropped sharply through April and May and continues sitting over 50% below its all-time high from late 2021, the network's mining industry growth is not slowing.

According to mining data from Braiins, Bitcoin’s (BTC) mining difficulty has set a new record high for the sixth time this year to reach 31.25 trillion this week. The 4.89% adjustment was the third-largest increase this year.

Similarly, data from blockchain.com shows that the BTC network demands 220.436 million terahashes/second (TH/s) at the time of writing.

While the continued hash rate growth despite BTC’s downward trending prices means dwindling revenue for some miners, the aggregate growth of the industry is a strong signal for the security of the network and the long-term resilience of the entire bitcoin economy.

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Bitcoin Mining Difficulty All-Time High Bitcoin Mining Dificulty ATH
Bitcoin Mining Difficulty Reaches All-Time High Despite Bear Market
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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