Bitfinex Alpha #57 | Bitcoin Mining Difficulty Continues to Surge

#Bitcoinminingdifficulty is poised for a record high, reflecting a consistent rise in the number of #mining machines competing to secure the #network. The #difficulty is a measure of the computing power required to #mine a #Bitcoinblock or, in more technical terms, to find a hash below a given target. A high difficulty means that it will take more #computingpower to mine the same number of blocks, making the network more secure from attacks. According to the data from the figure below, the #BTC mining difficulty has risen to 51.23 trillion as of the bi-weekly adjustment on May 30th. This signifies an increase of more than 2.7 percent in the difficulty that individual miners encounter as they endeavour to unearth a Bitcoin block. Check the [Bitfinex Alpha #57](https://blog.bitfinex.com/wp-content/uploads/2023/06/Bitfinex-Alpha-57.pdf) to find out what the rise in mining difficulty can indicate, and subscribe to our weekly newsletter [here](https://blog.bitfinex.com/bitfinexalpha/). #Bitcoin #mining #miningdifficulty #BitfinexAlpha