Bitcoin Mining Gets 16% Easier As Chinese Miners Anticipate Crackdown


Source: bitcoinethereumnews.com bitcoinethereumnews.com

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A Chinese government crackdown on Bitcoin mining is scaring off miners. The mining difficulty fell by 16%, the lowest this year. Bitcoin’s mining difficulty fell by 16% on Sunday to 21 trillion, the sharpest decrease this year. The correction suggests that Chinese miners are pulling the plug in advance of further crackdowns on mining by the government. Bitcoin mining difficulty measures how much computer power is required to produce new Bitcoin. The network adjusts the difficulty (roughly) once a fortnight to reflect the level of competition among miners. Lower mining difficulty indicates less competition. More than 75% of the miners...