Last week, the bitcoin hashrate touched a new all-time high after tremendous growth. While this was a welcome development, it had significant implications for the next mining difficulty adjustment which took place on Monday. As expected, the difficulty adjustment had jumped by double-digits, beating even the highest of forecasts. Difficulty Adjusts By 13.5% Over the last week, the forecasts for the bitcoin mining difficulty adjustment put it at a high of Related Reading: LUNC Community Clamors For Coinbase Listing, Can It Reach $1? 9-12%. These ranged from the conservative side to the worst-case scenario, but either way would see the network mark the highest difficulty adjustment so far for the year 2022. However, even these predictions did not do justice to the actual adjustment. On Monday, the mining difficulty (how many hashes it takes to mine a BTC block) jumped from 31.36T to 35.61T, a 13.5% increase. This higher difficulty adjustment is in line with the increasing mining power as more bitcoin miners bring their machines online. Mining difficulty adjusts by 13.5% | Source: Coinwarz Interestingly, the bitcoin mining difficulty is not expected to ease up anytime soon. The next difficulty adjustment will take place on Sunday, October 23, 2022, with another expected increase of 11.3%. In the next three months, the mining difficulty is expected to increase by 22.5%. As for the bitcoin hashrate, it has seen some dec...
