The Bitcoin network mining difficulty has fallen by 1.41%, according to BTC.com.
The drop follows another 2.35% dip in difficulty at the end of June. Before that, in early June, it increased by 1.29%.
Mining difficulty refers to the complexity of the mathematical process behind mining, during which miners are repeatedly trying to find a hash below a set level. Miners that “discover” this hash win the reward for the next transaction block. Mining difficulty adjusts every 2,016 blocks (roughly every two weeks) in sync with the network’s hash rate.
Meanwhile, the network’s hash rate has increased by about 2.4% since July 22, the date of the last update, according to data compiled by The Block Research.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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