Bitcoin Mining Difficulty Reaches All-Time High of 110.45 Trillion
The Bitcoin network has experienced notable changes following Donald Trump's presidential election victory in November 2024. Key updates include:
- Bitcoin mining difficulty reached a historical peak of 110.45 trillion on January 12, 2024, after a 0.61% increase.
- The surge indicates high miner activity, but also puts pressure on profitability as operational costs rise.
- Post-April 2024 halving, some miners with outdated equipment exited the market, contributing to a 15% drop in hashrate.
- The increased difficulty enhances network security and suggests a healthy mining ecosystem, with expectations for a further rise to 111.29 trillion in 14 days.
- Bitcoin's price is around $91,000, experiencing a 3.33% decline in the past 24 hours.
- The hashrate is approximately 920 EH/s, indicating strong network performance but raising mining challenges.
- Total dollar mining revenue surpassed $35 million, up over $10 million from September lows, yet remains below the 365-day SMA of $40 million.
Historically, surges in miner revenue above the 365-SMA correlate with Bitcoin bull runs.