Bitcoin’s mining difficulty level fell 3.59% on Tuesday morning in Asia, following the unplugging of some US mining firms due to deadly winter storms over the holiday season, on top of ongoing cash shortages caused primarily by low Bitcoin prices and high energy costs. According to BTC.com data, the mining difficulty reading was 34.09 trillion at block height 770,112 in Tuesday’s biweekly adjustment, up from 3.27% in the previous adjustment on Dec. 19. The most recent Bitcoin mining difficulty reading was nearly 40% higher than on January 8, last year, when the reading was 24.37 trillion. The difficulty of Bitcoin mining, which determines how much computing power is required to verify blocks on the blockchain in exchange for Bitcoin rewards, changes roughly every two weeks.
