Mining Bitcoin Hasn’t Been This Easy in a Year

China’s crackdown on Bitcoin mining has continued to make the mining process of the flagship crypto asset very easy. According to data from its explorer BTC.com, the network of the digital gold had posted the fourth negative adjustment of its mining difficulty.

Per the data, Bitcoin mining difficulty has dropped by 4.8 percent with the mining difficulty moving from 14.4 trillion to 13.7 trillion. This is the lowest difficulty level the coin has witnessed in the last one year.

Source: BTC.com

Bitcoin mining difficulty is a metric that is used to gauge how hard it is to mine a block of BTC. When the mining difficulty is high, it means miners would require a higher computational power to verify transactions happening on the network. 

The difficulty has been programmed to adjust after the mining of every 2016 block which roughly translates to every two weeks.

On May 29, Bitcoin mining difficulty level first dropped by almost 16 percent, before it dropped by another 5.3 percent on June 13. In this month alone, the difficulty level of the asset has dropped by 28 percent, which is the single largest drop the network has seen in its history.

Little over two months ago, BTC mining difficulty level stood at almost 25 trillion. However, the advent of the crackdown on the process by the Chinese authorities have forced some miners out of operations thereby reducing the difficulty level of mining the asset.

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