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.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.