Bitcoin Will Soon Be 27% Easier to Find/Mine — Miners Brace for the Largest Difficulty Drop in BTC's Lifetime

Jamie Redman reports in bitcoin.com that "Bitcoin, the leading crypto asset in terms of market capitalization, has seen the cryptocurrency’s network hashrate drop considerably during the last two weeks. On Saturday, July 3, the network’s mining difficulty will see the largest epoch drop in history as the difficulty is set to slide by more than 27%.

When the mining difficulty on the network is lower, it is far easier for bitcoin miners to find blocks. A difficulty that keeps rising alongside the hashrate means an attacker will have to spend enormous amounts of resources to breach the system.

Bitcoin’s upcoming difficulty change comes at a time when Chinese miners have been told to operate elsewhere and a great portion of hashpower went offline this past Monday. During the last BTC difficulty change at block height 687,456 on June 13, 2021, the global hashrate was around 142.68 exahash per second (EH/s).

Since June 29, BTC’s hashrate has increased a great deal as 30-day hashrate statistics show the network’s hashpower was only 66 EH/s that day. Saturday’s difficulty change will not only be a milestone but will also make it much easier for miners to continue ramping up resources."

Source credit and full story - https://news.bitcoin.com/bitcoin-blocks-will-soon-be-27-easier-to-find-miners-brace-for-the-largest-difficulty-drop-in-btcs-lifetime/

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