Bitcoin blocks are being generated more slowly than expected, signaling a downward adjustment in mining difficulty. A calculation updated today using blockchain data predicts difficulty will fall by approximately 8.3% at block 975,744. If the prediction proves accurate, network difficulty will drop from 148.36 trillion to approximately 136 trillion.
The Bitcoin network recalculates mining difficulty every 2,016 blocks. The aim is to keep the average block time near 10 minutes, whether the processing power devoted to the network rises or falls. In the current measurement, blocks were found at an average of 10.9 minutes. The opposite occurred in the adjustment at the end of October, when difficulty rose by 5.5 percent as blocks arrived about every 9.5 minutes.
Lower difficulty raises the likelihood that a miner will find a block with the same processing power. The effect on miners’ dollar earnings will depend on the Bitcoin price, transaction fees, and electricity costs. Based on today’s calculations, the adjustment was expected early tomorrow morning, Turkish time. If the remaining blocks arrive faster or slower than anticipated, the timing and final size of the decrease could change.
*This is not investment advice.
