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Bitcoin Mining Difficulty Drops By 3.6%

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The difficulty of mining in Bitcoin fell to 3.59 percent on the morning of Tuesday in Asia.

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Certain U.S. mining firms unplugged because of deadly winter storms that hit the country during the Christmas period, in addition to ongoing cash shortages.

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The reading of mining difficulty was 34.09 trillion, at block height 770,112, during Tuesday's weekly adjustment.

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After the 3.27 percent increase in the last adjustments in December. 19 as per the data of BTC.com.

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The most recent Bitcoin mining difficulty read was 40% more than the reading on Jan. 8 of the previous year.

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Bitcoin mining difficulties, that is, the measure of how much computing power is required to validate blockages on blockchain to exchange for Bitcoins reward, fluctuates around every two weeks.

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The average hash rate of Bitcoin's seven-day period, which is a measure of the processing power used by miners, was about 256.7 exahashes per second on Monday.

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The Bitcoin price hit a record high of US$67,000 in November 2021.

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However, it has since dropped 75%, reaching approximately US$16,695 by noon on Tuesday in Asia.

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Many U.S.-based miners had to shut down their mines in the last month because of dangerous snowstorms.

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