Bitcoin Difficulty Rises 1.31%, Hashprice Surges 22%

Bitcoin's mining difficulty has increased by 1.31% as of block 965664, following two weeks of steady block times. This means that miners will need to solve more complex mathematical puzzles to validate transactions and earn rewards.

The current mining difficulty stands at 127.45 trillion, marking a 13% drop from the year's high of 146.47 trillion in March. However, despite this decrease, miner profits remain tied to Bitcoin's price, which has seen significant gains over the past month.

Hashprice, or the estimated value of 1 petahash per second (PH/s) of hashrate produced per day, has skyrocketed by 22% in the last 30 days. However, the network's hashrate remains below the 1 zettahash per second (ZH/s) range at 934 exahash per second (EH/s).

Miner profits are directly linked to Bitcoin's price, and participants are still seeing extremely low fees, with only 0.43% of total rewards received by miners coming from block fees over the last day.