Global #hash rate

Bitcoin mining difficulty has surged to an unprecedented level, climbing 3.5% on Wednesday according to data from CoinWarz.

In the ever-evolving world of cryptocurrency, the strength and security of Bitcoin's network are increasingly evident. Recent data highlights that the network is executing an impressive average of more than 740 quintillion hash computations per second, a testament to the immense computational power being applied by miners globally.

Bitcoin’s market dynamics continue to bewilder investors and traders as they grapple with conflicting signals. Recent developments paint a complex picture: while whale movements hint at possible short-term turbulence, long-term holders and stable hash rates offer a counterbalance of optimism.

Bitcoin miners are currently grappling with severe financial challenges, driven by decreased block rewards following this year's halving and an all-time low hash price.

Unlike previous Bitcoin halving events, the fourth halving saw a distinct change. While miners now receive reduced block subsidy rewards from 6.25 BTC to 3.125 BTC, they still earn additional rewards from transaction fees per block.