The Bitcoin network started the year with an impressive milestone as mining difficulty reached a historic peak.
On Jan. 12, the network’s difficulty rose by 0.61%, setting a new record of 110.45 trillion at block height 878,976, according to CloverPool’s data.
Bitcoin Mining Difficulty (Source: CloverPool)
This latest increase extends a remarkable streak for the Bitcoin network, with mining difficulty rising for eight consecutive cycles. The last time such a prolonged upward trend occurred was in 2021, when nine consecutive positive adjustments occurred.
In 2024, Bitcoin mining underwent a significant transformation, with difficulty surging by nearly 50%. This growth pushed the metric past the 100 trillion mark, cementing a new benchmark for the industry.
Bitcoin Mining Difficulty in 2024 (Source: CloverPool)
Of the 27 adjustments recorded during the year, 18 were positive, indicating a strong recovery in mining activity despite market challenges of the fourth halving event, which slashed miners’ reward to 3.125 BTC.
Meanwhile, market experts believe this upward momentum will continue as miners remain active and aim to capitalize on the renewed global interest in the top crypto.
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