Bitcoin mining difficulty has reached a new all-time high of 110.45 trillion, marking the eighth consecutive positive adjustment, driven by increasing hashrate. Such prolonged positive adjustments have historically coincided with market peaks and troughs, notably during the bear market of 2018 and the bull run of 2021. The difficulty adjusts every 2,016 blocks to maintain a consistent ten-minute block generation time, adding pressure on miners as the competition intensifies. This situation has prompted some publicly traded miners to diversify into high-performance computing and AI sectors. For instance, MARA Holdings has issued convertible bonds to invest in Bitcoin while optimizing revenue through lending their assets. The current hashrate stands at 775 EH/s, indicating potential growth ahead of the next halving. Historical context shows that previous sequences of consecutive positive adjustments have typically preceded market tops, suggesting that the recent surge in difficulty may signal important market shifts.

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