The complexity of bitcoin mining has increased by 9%

Experts have recorded a 9% increase in the complexity of bitcoin mining, the biggest jump in the difficulty of mining the flagship cryptocurrency since the beginning of 2022.

According to BTC.com, the drop in the value of bitcoin has affected the complexity of mining. The difficulty of mining BTC, which increased by 9.26%, was the highest for the entire year and led to an increase in the level of competition among miners.

At the time of writing, BTC’s hashrate (mining power) is 221 exashes per second (EH/s). Interestingly, at the end of July, the complexity of bitcoin mining dropped by 5%, which was the third drop in a row and the largest since 2021.

As a reminder, on July 15, bitcoin mining capacity dropped by 27% due to the temporary suspension of cryptocurrency mining in Texas caused by the heat wave. At that time, the BTC hash rate dropped to 159.41 exashes per second (EH/s).