Bitcoin Mining Difficulty Hits All-Time High as Mining Revenue Rises; Signals Upcoming Bull Run

Bitcoin difficulty hits an all-time high of 95.67T, which coincides with a record hashrate that went above 700 EH/s for the first time. The 3.9% jump in difficulty becomes the 13th positive adjustment for 2024. Once the 365-SMA total miner revenue is claimed, this typically coincides with bull runs in bitcoin. Bitcoin's (BTC) mining difficulty hit an all-time high of 95.67 terahashes (T), rising by 3.9%, on Tuesday, Glassnode data shows. Mining difficulty measures how hard it is to mine a new block on Bitcoin. So far, in 2024, there have been 22 difficulty adjustments, with 13 being positive. As a result, the difficulty has jumped from 72T to 92T, a 27% increase, year-to-date.