Bitcoin mining difficulty drops 16% as miners pull out of China under Beijing crackdown

Cryptos | 5/31/2021 1:51:57 AM GMT China's recent crackdown on crypto mining and trading has pushed firms to cease operations in the country. Bitcoin mining difficulty suffers its greatest blow this year, a decrease of 16%. The difficulty adjustment means that it takes longer for each block to be produced on the BTC network. Bitcoin mining difficulty fell sharply over the weekend, marking the largest decline this year. Mining firms in China have been pulling operations out of the country as Beijing has intensified its crackdown on cryptocurrencies . Chinese miners anticipate crackdown Bitcoin mining difficulty, which measures how much…