Bitcoin (BTC) mining difficulty level is a metric that is considered the time spent adding new blocks to the network. This difficulty level increased by 15% as of June 16, and has been recorded as the biggest leap since January 2018.
According to data provided from BTC.com, the jump in difficulty level occurred in block 635.040 and the network’s difficulty level increased to 15.78 trillion.
On March 26, with the effect of the Bitcoin half-effect, the difficulty level, which decreased by about 16%, started to rise again. Well what does it mean?
After the Bitcoin split, the costs of miners increased significantly, since the block reward was halved. Miners, who worked with less efficiency and could not hold on to the mining market, had to turn off their devices. Along with the decreasing number of miners in the network, the level of mining difficulty increased. Because the time required to remove a block was extended.