The network difficulty has increased by over 6%.
Bitcoin plunged below the $26,000 level on Wednesday extending monthly losses to nearly 15% but it has never been more difficult to mine the leading crypto-asset.
Besides the difficulty, the network hash rate has also not been reactive to Bitcoin’s price, which is facing significant downward pressure after general sentiment flipped bearish last week. The uptrend can be attributed to the fact that more mining rigs have been deployed this year after a choppy 2022.
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