Weekly Bitcoin (BTC) mining difficulty up until January 20, 2024

As of January 2024, mining new Bitcoin (BTC) on the blockchain became moderately less difficult compared to earlier that month. This figure essentially reflects how much computing power is being applied to mine this particular cryptocurrency, and is calculated every 14 days based on the hashing power that is competing for rewards on the network during this period. Hashing refers to the amount of processing power that PCs use to build the blockchain: the more blocks of verified transactions that are processed or "hashed", the more Bitcoin - the reward for this verification process - is being mined. A higher mining difficulty means more miners are trying to get this cryptocurrency. Originally it was estimated that BTC's maximum supply would be reached by 2024, although nearly 90 percent of this supply was reached already by March 2021.