Bitcoin mining difficulty increased marginally by 1.44% to reach 84.38T after falling 5.9% to 83.14T on May 9. This comes as the price of BTC has recovered, approaching its recently set peak value of over $70,000. 📈

Difficulty refers to the difficulty of mining a new block on the Bitcoin blockchain, which recalibrates approximately every two weeks to maintain a stable block creation time of around 10 minutes. 💻

The next difficulty adjustment, scheduled for June 4, is expected to be significant, with a current projected increase of 10.9%.

The price recovery, coupled with the recent halving event that reduced the block reward, creates a mixed effect for miners. The increased price increases miners' income potential, but the increased difficulty and reduced rewards mean they will have to invest in more efficient hardware and incur greater operating costs to remain profitable.