Bitcoin (BTC) may have dropped to a six-month low this week, but under the hood, the network is truly stronger than ever.

Data from the network’s monitoring sources, including Glassnode and BTC.com, confirms that the difficulty of the Bitcoin network hit an all-time high on Friday.

Complexity exceeds 26 trillion for first time
The difficulty, expressing how many miners must work to solve the equations to process transactions on the blockchain, is arguably the most important fundamental component of the Bitcoin network.

The metric is automatically adjusted to increase or decrease the mining effort depending on the participation of the miners – the greater the competition between miners, the greater the difficulty.

This allows you to maintain stable mining regardless of factors such as sentiment, price or unwanted accidents.

After falling in mid-2021, difficulty rebounded before the end of the year, with the latest auto-tuning adding 9.32% to the previous level. In doing so, he entered more than $26 trillion in uncharted territory.

Commenting on the event, cryptocurrency reporter and commentator Colin Wu stated that growth was the highest in more than six months, with data from BTC.com confirming a recent correction of more than 10%. in August.

Falling BTC prices cannot destabilize miners
So the challenge logically followed the growth of the hash rate, which has consistently set new records over the past year.

Related: ‘Bear Market’ Turning Into Bitcoin Demand Will Trigger Bitcoin’s Next Price Rise – Analysts

According to MiningPoolStats, the hash rate, an estimate of the computing power assigned to blockchain miners, is currently 192 exahash per second (EH/s), after briefly reaching 218 EH/s on Jan.

Bitcoin hash rate for the week starting Jan 17 (screenshot). Source: MiningPoolStats
As Cointelegraph often reports, the old mantra among secular hodlers is “price follows the hash rate”, but this trend fades into the background for many as the spot price moves in the opposite direction.

Therefore, the increased hash rate means that with longer lead times, miners remain optimistic about the profitability of their operations. Calculations from last week showed the breakeven point to be around $34,000.

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