Bitcoin mining difficulty to end year rising by 3%

According to Bitrawr's Bitcoin difficulty estimator, Bitcoin mining difficulty is projected to rise by at least 3% on December 19 for the year's final adjustment.

According to the statistics, BTC's current mining difficulty is 34244331613176.18, and a 3% rise would raise it to between 35421102548895 and 35421764497396.

Mining difficulty reflects the complexity of solving the cryptographic problem required to create a block on the Bitcoin network, and it is updated every two weeks.

BTC mining difficulty in 2022

In 2022, BTC saw 26 mining changes, 16 of which were positive and ten of which were negative. This is in contrast to 2021, when the flagship asset experienced 27 mining changes, 19 of which were positive and eight were negative. After China halted Bitcoin mining, BTC had nine straight positive changes.

The orange line in the accompanying chart represents the difficulty of mining BTC. In October, the mining difficulty increased significantly. However, it reached a plateau in November before falling to its current level in December.

Despite the reduction, Bitcoin's difficulty will end the year only 4% lower than its all-time high, indicating that mining difficulty remains high.

The record high level of mining difficulty in 2022 was caused by a surge in hash rate, which has left numerous miners fighting for profitability, especially as the price of BTC has fallen.

Despite multiple miner surrenders, Bitcoin hashrate remains relatively high. BTC's mean hash rate on the 7-Day Moving metrics has fallen since high in November, but still remains above 240 exahashes.

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