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11/3/2020, 5:25 PM (Source: TeleTrader)
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Bitcoin's mining difficulty records biggest percentage fall

Bitcoin’s mining difficulty recorded its largest percentage decrease on Tuesday since the rising of ASIC mining machines back in 2012. A relative measure of the amount of resources required to compete for mining fresh Bitcoin fell approximately by 16% which means that miners’ profitability will grow.

According to BTC.com data, difficulty plunged to 16.787 trillion, its lowest level since June. As Bitcoin’s price has been growing essentially during the last few months and the amount of power needed to mine new Bitcoins has declined, margins for efficient miners are expected to widen.

Bitcoin grew by 1.89% to $13,737.50 at 11:19 am ET.

Breaking the News / TF