It’s getting easier to mine Bitcoin (BTC).
Specifically, it is now 4.33% easier to mine Bitcoin as the difficulty adjustment algorithm (DAA) dropped from 31.25 trillion to 29.85 trillion. It’s the largest drop in the difficulty rating since July of last year.
Bitcoin’s value has declined about 40% this year, so a downward adjustment in the difficulty rating helps miners recoup some of the losses by making it 4.33% easier to find and mine Bitcoin.
A lower difficulty rating means that it takes less power and less time to mine for Bitcoin using high-powered computers.
Right now, there are 1,864 Bitcoin blocks left to be mined until the next difficulty rating change scheduled for June 8 of this year.
With Bitcoin’s difficulty rating running at 29,850,529,410,160 estimates currently show another reduction in the difficulty adjustment algorithm is likely of about 0.16% in June.
