NEW: Bitcoin Mining Difficulty Surges by 7.33%, Sets Record Amidst Fourth Halving Countdown

Bitcoin (BTC) mining faces heightened difficulty, experiencing a remarkable 7.33% increx`ase, marking the most significant surge in 2024. This comes after a 3.90% decrease on Jan. 20, showcasing the challenging dynamics in Bitcoin mining throughout the year. As the countdown to the fourth halving event progresses, less than 11,500 blocks away, the reward for mining BTC is set to halve. The recent difficulty spike propels it to an all-time high of 75.50 trillion, indicating the threshold for a valid block hash. The current collective hashrate holds steady at 536 exahash per second, slightly below the peak of 566 EH/s on Jan. 29, 2024. Examining block discovery metrics reveals Foundry USA and Antpool collectively dominating over 60% of Bitcoin’s hashrate. Foundry USA leads with 31.94%, contributing 173.53 EH/s, followed closely by Antpool with 29.30%, holding 159.17 EH/s. The next mining difficulty retarget is scheduled for Feb. 15, 2024, emphasizing ongoing challenges and shifts in the Bitcoin mining landscape.

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