Bitcoin mining difficult rises by more than 3%

Bitcoin's mining difficulty rose roughly 3.4%.

The move was modest compared to the 13% increase from earlier this month. 

The mining difficulty automatically adjusts every 2016 blocks, occurring roughly every two weeks. The difficulty exists to ensure that transactions process at a steady pace regardless of how high or low the network hash rate is at a given time. 

The bitcoin mining hash rate hit an all-time high of 266 EH/s this month. The current network hash rate was roughly 263 EH/s as of Saturday. 

Expand Chart

According to the most up-to-date estimate, miners have generated roughly $420 million in revenue thus far this month.