Bitcoin mining difficulty drops for fourth time in a row

Bitcoin mining difficulty has posted another negative adjustment on Sunday, with the difficulty rate almost halving since mid-May.

Bitcoin mining difficulty drops for fourth time in a row

Amid the ongoing crackdown on cryptocurrency mining in China, mining new Bitcoin (BTC) continues getting easier as BTC has experienced another mining difficulty drop.

On July 18, the Bitcoin network posted its fourth consecutive negative adjustment of mining difficulty, dropping 4.8%, according to data from Bitcoin explorer BTC.com.

The latest mining difficulty adjustment occurred at block 691,488, reducing the difficulty rate from 14.4 trillion to 13.7 trillion, the lowest level recorded since June 2020. The difficulty metrics have now almost halved over the past two months, after reaching over 25 trillion on May 13.