Bitcoin's mining difficulty has increased by 9.95% after the latest adjustment, according to an update posted Friday on BTC.com.
More machines have been coming online, likely due in part to the recent rally in bitcoin prices, combined with declining power costs, which have provided some much-needed relief for struggling miners.
"Network hashrate continues to march upwards, as more efficient machines come to market, electricity rates fall, infrastructure gets built out and mining economics improve with Bitcoin price and ordinal transaction fees," Luxor COO Ethan Vera said.
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