{"id":9812,"date":"2022-04-02T09:48:26","date_gmt":"2022-04-02T09:48:26","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-network-difficulty-reaches-all-time-high-as-miners-pursue-2m-btc\/"},"modified":"2022-04-02T09:48:28","modified_gmt":"2022-04-02T09:48:28","slug":"bitcoin-network-difficulty-reaches-all-time-high-as-miners-pursue-2m-btc","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-network-difficulty-reaches-all-time-high-as-miners-pursue-2m-btc\/","title":{"rendered":"Bitcoin network difficulty reaches all-time high as miners pursue 2M BTC"},"content":{"rendered":"<div data-v-2a0745c6=\"\">\n<p>Just when the Bitcoin (BTC) miners helped release the 19th millionth BTC in circulation on Friday, the BTC network\u2019s mining difficulty reciprocated by reaching an all-time high of 28.587 trillion.\u00a0<\/p>\n<p>Bitcoin\u2019s network difficulty correlates to the computational power required to mine BTC blocks, which currently demands an estimated hash rate of 201.84 exahash per second (EH\/s), according to data from Blockchain.com.<\/p>\n<figure><figcaption style=\"text-align: center;\">Bitcoin network difficulty. Source: Blockchain.com<\/figcaption><\/figure>\n<p>Supporting the spike in the network difficulty, Bitcoin\u2019s hash rate maintained a stronghold throughout the year while breaking into an all-time high of 248.11 EH\/s on Feb. 13.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/04\/705d2d22-cb22-4180-ba7a-9064723c6490.png\"\/><figcaption style=\"text-align: center;\">Bitcoin hash rate over the past three years. Source: Blockchain.com<\/figcaption><\/figure>\n<p>A higher hash rate ensures resilience against double-spending attacks, which is the process of reversing BTC transactions over the blockchain by contributing to at least 51% of the Bitcoin hash rate.\u00a0<\/p>\n<p>Back on Mar. 4, roughly a month before reaching an all-time high, the BTC network difficulty experienced a slight decline from 27.96 trillion to 27.55 trillion, which eventually fell down to 27.45 trillion until Mar. 30. Prior to that, the resilient Bitcoin network grew consistently since July 2021.<\/p>\n<p>With just 2 million BTC left to mine as rewards and an influx of Bitcoin miners from across the world, the BTC network is expected to increasingly grow stronger as it supports the thriving community. it is estimated that the remaining 2 million BTC (out of the total supply of 21 million) will be eventually mined roughly by the year\u00a02140 owing to factors including halving.\u00a0<\/p>\n<p><strong>Related: <\/strong><strong><em>Terra smash-buys $139M Bitcoin, wallet reaches 31,000 BTC<\/em><\/strong><\/p>\n<p>On Mar. 30, a Terra wallet belonging to LFG (Luna Foundation Guard) amassed $139 million in BTC, bringing its total coffers up to 31,000 BTC or $1.47 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just getting started  <a rel=\"nofollow\" href=\"https:\/\/t.co\/dJrkf6YfrR\">pic.twitter.com\/dJrkf6YfrR<\/a><\/p>\n<p>\u2014 TerraLunaaaa  (@TerraLunaaaa) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/TerraLunaaaa\/status\/1509120568783740934?ref_src=twsrc%5Etfw\">March 30, 2022<\/a><\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/04\/4cd82064-432a-42d5-9583-0a1d69b456d2.jpg\"\/><figcaption style=\"text-align: center;\">Terra Bitcoin wallet amassing billions in BTC. Source: BitInfoCharts<\/figcaption><\/figure>\n<p>As Cointelegraph reported, the wallet began amassing colossal amounts of BTC on Jan. 2021 and has not sold a single satoshi to date.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just when the Bitcoin (BTC) miners helped release the 19th millionth BTC in circulation on Friday, the BTC network\u2019s mining difficulty reciprocated by reaching an all-time high of 28.587 trillion.\u00a0 Bitcoin\u2019s network difficulty correlates to the computational power required to mine BTC blocks, which currently demands an estimated hash rate of 201.84 exahash per second [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-9812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin network difficulty reaches all-time high as miners pursue 2M BTC | NFT &amp; 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