Bitcoin mining difficulty has surged by 10.5%, reaching an unprecedented 90.67 trillion, according to the latest data from BTC.com. This adjustment occurred at block height 854,784 on July 30, 2024, at 17:13:32. Over the past seven days, the average computing power of the entire Bitcoin network has been 635.70 exahashes per second (EH/s).
This record-setting adjustment comes at a time of heightened political interest in Bitcoin mining within the United States. U.S. presidential candidate Donald Trump has recently called for the country to dominate global Bitcoin production. This stance is expected to create substantial business opportunities and boost the production of American-made mining hardware, as per analysts from the investment firm AllianceBernstein.
“In view of U.S. election season and Trump’s recent push to make Bitcoin in America, we believe this could be an important tailwind for the mining sector,” stated Bernstein in a recent analysis. Analysts Sanskar Chindalia, Gautam Chhugani, and Mahika Sapra of Bernstein predict that the market for mining chips and hardware could generate a cumulative revenue pool of $20 billion over the next five years.
