The difficulty of mining a block of bitcoin is set to reach a new all-time high of 50T on Wednesday due to the increase in computing power and popularity of the ordinals protocol. This has led to better profitability for miners, who are deploying more mining machines. However, an increase in difficulty could lead to a decline in profitability for miners. Uncertainty around the next Bitcoin halving event and constraints in available infrastructure could also slow down the increase of mining difficulty.
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Bitcoin Mining Difficulty Set to Reach All-Time High of 50T, Could Continue to Grow Further
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