On October 22, BTC Mining Difficulty and Network Hashrate Both Hit Historical Highs

According to data from the blockchain explorer Mempool, the Bitcoin mining difficulty rose 3.9% this Tuesday, with the difficulty adjustment came at block height 866,880, reaching a record of 95.7 trillion. According to The Block’s data dashboard, the 7-day moving average of Bitcoin’s network hashrate also set a historical of 723.6 EH/s for the first time, breaking through the 700 EH/s mark.

Despite Bitcoin experiencing a thrilling rise of $10,000 within 10 days, reaching an uplifting $69,500 on October 21st, the market seems to have entered a consolidation phase, hovering between $66,000 and $68,000. However, this has not stopped the market’s optimistic sentiment from gradually rising. It is still worth noting that after seven consecutive days of inflows, the Bitcoin ETF first experienced a net outflow on October 22nd. Due to a $134.7 million outflow from ARKB, the net outflow for the day reached a high of $79.1 million. Considering the upcoming U.S. election on November 5th, the trend of Bitcoin’s rise and fall in the last few days remains confusing. However, most people still believe that the great bull market of 2024 has not yet appeared but is imminent.

If you, my fellow, as a miner, are closely monitoring the recent trends of Bitcoin, next year’s mining trends, and the timing of mining machine transactions, and other latest, hottest, and most confidential industry news, consider following Blockchain Life 2024, which is being held in Dubai from October 22nd to October 23rd. These topics of interest to you are being disclosed by industry leaders at the conference site. You are also welcome to join us at the event and enjoy Blockchain Life 2024 with BITMARS! We are at the Dubai Blockchain Life 2024 venue, bringing the hottest mining machines and the most suitable mining solutions for you, miner friends!

BITMARS is currently selling a variety of energy-efficient and priced professional mining machines worldwide, including the ANTMINER S21 series, WHATSMINER M50 , ANTMINER S19j xp , and more. Please contact us to get the most suitable mining solution for you! Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

BITMARS is an internationally renowned crypto miner trading company. We provide comprehensive, professional, timely, and cost-effective miner purchasing and hosting services to maximize your wealth!