Bitcoin mining difficulty hits 148 trillion as revenues fall to three-month lows

Bitcoin's mining difficulty jumped 5.54% on Oct. 29 as recovering network computing power intensified competition among miners already facing shrinking revenues. Data from Nodewitness shows the adjustment increased difficulty from 140.58 trillion to 148.36 trillion, following another 5.92% increase on Oct. 16. The increase comes as Bitcoin miners rebuild the network's computing power despite an industrywide shift toward artificial intelligence infrastructure. However, the recovery is adding financial pressure, with mining revenue falling toward $33 per petahash per second daily, its lowest level since August. According to Real Vision chief crypto analyst Jamie Coutts, Bitcoin's mining network has staged a substantial recovery following one of its steepest contractions in years.

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