The Bitcoin network has kicked off the year by reaching a groundbreaking milestone, as its mining difficulty hit an all-time high.
On January 12, the metric increased by 0.61%, climbing to an unprecedented 110.45 trillion at block height 878,976.
This achievement marks the continuation of a notable trend, with mining difficulty rising for eight consecutive adjustments. Such a sustained streak hasn’t been seen since 2021, when the network experienced nine straight upward revisions.
The past year proved transformative for Bitcoin mining, as difficulty surged by nearly 50%, surpassing the 100 trillion mark for the first time. Of the 27 adjustments recorded in 2024, 18 were positive, signaling a robust recovery for miners despite the challenges posed by the fourth halving, which reduced block rewards to 3.125 BTC.
Industry observers expect this momentum to persist, driven by miners’ efforts to leverage growing global interest in Bitcoin. As the network evolves, it continues to set new benchmarks, reflecting both its resilience and the increasing competition among miners.
His prediction is rooted in growing instability across traditional financial systems and what he believes is the emergence of the most powerful bull market in history.
Japanese investment firm Metaplanet has officially joined the ranks of the world’s largest corporate Bitcoin holders, announcing Thursday the purchase of 145 BTC — pushing its total stash to 5,000 BTC, currently valued at around $460 million.
As global sanctions continue to isolate Russia from traditional financial networks, the country’s top financial bodies — the Central Bank and the Ministry of Finance — are preparing to launch a government-backed cryptocurrency exchange.
Veteran Bloomberg Intelligence strategist Mike McGlone has reiterated his bearish stance on Bitcoin, adding Dogecoin (DOGE) to the list of assets showing signs of weakness.