As the next Bitcoin difficulty adjustment is expected to occur on March 10, all eyes on miners’ ability to increase their BTC production further.
) mining firm Argo Blockchain has increased its daily BTC production despite a significant spike in network difficulty.
During February, Argo mined 162 Bitcoin or BTC equivalents, translating to 5.7 BTC per day, which the firmArgo’s daily Bitcoin production rate in February surged 7% from 5.4 BTC per day produced in January, despite a 10% month-over-month increase in average network difficulty. Bitcoin mining difficulty is a measure defining how hard it is to mine a BTC block. A higher difficulty requires more hash rate or additional computing power to verify transactions and mine new coins.
to data from Blockchain.com, BTC network difficulty surged to new all-time highs in February, hitting a difficulty rate of 43 trillion on Feb. 25.The news comes amid the industry anticipating the next Bitcoin difficulty adjustment expected to occur on March 10.
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