Bitcoin mining difficulty could jump sharply on March 10

Due to the expected recovery in the supply of mining equipment, the difficulty of mining bitcoin may soon increase. Reported by The Block.

The mining difficulty is adjusted every two weeks, calculating the power needed to find a new block. The next difficulty calculation is due on March 10th. For the first time in 2020, the difficulty has decreased slightly amid the February 25 coronavirus outbreak.

The quarantine measures taken by China led to delays in deliveries and the closure of some mining centers, but most of them still continued to work, industry officials said.

In mid-February, the Chinese government eased quarantine measures to stimulate the economy. Miner producers Canaan and Bitmain partially resumed equipment supplies.

“We returned to work as soon as the municipal government of Shenzhen agreed to this. There were no delays ”, - said an employee of Bitmain.

After government concessions, the miners received new equipment, which will soon be installed and launched. According to experts, this should lead to an increase in the complexity of bitcoin mining in the near future.

Recall that recently the bitcoin hash rate updated its historical maximum. Read also about the coronavirus outbreak and its impact on mining in China and the bitcoin industry.

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