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Bitcoin Mining Difficulty Grows For The First Time Since Chinese Repression Begins

News Snapshot:

Bitcoin’s mining difficulty level has increased by 6% in its last fortnightly change, according to data from BTC.com. Mining difficulty measures the computational power required to validate Bitcoin transactions and, consequently, how difficult it is to gain new cryptocurrencies. It is the first positive adjustment since the start of the cryptocurrency crash in May. The event, China’s accelerated crackdown on the mining sector, led to the difficulty of four consecutive falls, which changed the global mining scenario. Bitcoin Mining Difficulty measures how much computer power is needed to gain cryptocurrency units with network transaction validation. The network adjusts the difficulty…

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