Bitcoin Mining Difficulty Drops 9.13%, Biggest Cut Since June

Bitcoin (BTC) mining difficulty has dropped 9.13% at block 975,744, bringing the network setting to 134.82 T and marking its sharpest single decrease since June 14.

The decline was larger than an earlier forecast of a 7.85% drop. A Nov. 12 snapshot behind that forecast showed 168 blocks remaining before the adjustment at block 975,744.

Difficulty sets the computing work required to mine blocks. Bitcoin adjusts the measure every 2,016 blocks to keep average block production near 10 minutes, so the lower setting means less required work than at the previous level.

The two prior adjustments raised difficulty: 5.92% on Oct. 16 and 5.54% on Oct. 29, bringing it to 148.36 T. The June 14 decline was 10.09%, from 138.96 T to 124.93 T.