Bitcoin mining is more difficult than ever! The computing power of the whole network increased by 45% in half a year.

With the increasing competition among miners, the mining difficulty of bitcoin network has reached an all-time high again.

CoinWarz, a chain analysis tool, said on February 18 that the mining difficulty of bitcoin has climbed to 27.97t (Trillion). This is the second time bitcoin has set a record in terms of mining difficulty in the past three weeks. According to the data on January 23, the mining difficulty of bitcoin was about 26.7t, with an average computing power of 190.71eh/s per second.

The difficulty of mining basically reflects the level of competition among miners. The higher the difficulty, the more intense the competition. In this case, miners have recently started selling their holdings or shares of their companies to ensure that they have enough cash reserves on hand. Most notably, bitcoin miner Marathon Digital Holdings applied to sell $750 million of its company’s shares on February 12.

Meanwhile, according to Blockchain.com data show that the computing power of bitcoin has also reached an unprecedented high of 211.9EH/s, increasing by 45% in six months.

In the past four days as of the 17th us time, AntPool has the highest contribution to computing power, with 96 bitcoin blocks dug up, followed by 93 blocks dug up in F2Pool.

Like Blockchain.com data showed that the difficulty of bitcoin network declined from May to July last year, mainly due to various factors including Chinese mainland’s total prohibition of encrypted currency mining and other factors. At that time, the computing power of bitcoin was only 69EH/s, and the mining difficulty was at the low point of 13.6t.

However, as miners who have moved to foreign countries resume operations in other countries, the computing power and mining difficulty of bitcoin have rebounded significantly since August last year.