For the first time since November 2021, the Bitcoin (BTC<\/a>) mining difficulty adjustment has dropped, correcting 1.49%. The move follows a succession of six consecutive positive difficulty adjustments, in which the mining difficulty and hash rate hit all-time highs<\/a>.<\/p>\n The average hash rate over the past two weeks fell to 197.19 exahashes per second (EH\/s), making the average block time exceed the 10-minute target at 10 minutes 9 seconds. As a result of the difficulty adjustment, miners competing to solve the next valid block found it marginally easier. <\/p>\n The difficulty adjustment is one of the Bitcoin protocol\u2019s most prominent features<\/a>. Every two weeks or 2,016 confirmed blocks, the difficulty for mining a new block \u201cadjusts\u201d based on the average of the past 2,016 blocks, making it easier or more difficult to mine blocks.<\/p>\n From the Bitcoin white paper, Satoshi Nakamoto wrote<\/a>, \u201cthe proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they’re generated too fast, the difficulty increases.\u201d <\/p>\n By inference, over the past 2,016 blocks, blocks were generated too slowly at an average of 10 minutes 9 seconds. As a result, the difficulty adjustment automatically decreases and miners will, henceforth, find it marginally easier to solve valid blocks over the next 2,016 blocks.<\/p>\n According to Denver Bitcoin, a well-known Bitcoin miner, the -1.49% correction could be the only one for the year. <\/p>\n Bitcoin just had its first downward difficulty adjustment of 2022.<\/p>\n Will it be the only downward adjustment of the year? Fun times. pic.twitter.com\/l3x8hNevaU<\/a><\/p>\n \u2014 Adam O (@denverbitcoin) March 3, 2022<\/a><\/p><\/blockquote>\n Related: <\/em><\/strong>New York Bitcoin mining moratorium bill garners more support<\/em><\/strong><\/a><\/p>\n A correction of 1.49% dwindles compared to the mining dark ages of May to July of 2021, when a ban on Bitcoin mining in China caused a catastrophic drop in the hash rate<\/a>. Thankfully, it swiftly climbed up over the course of 2021, surging by 31%<\/a> as countries like Kazakhstan<\/a> and Canada picked up the slack<\/a>, proving the network\u2019s resilience. <\/p>\n The Bitcoin mining industry is increasingly competitive, with tech industry players including Intel keen on making a dent in the hash rate and introducing their own miners<\/a>. As Denver Bitcoin alluded, the 300 Eh\/s hash rate could be an attainable goal in 2022, particularly as mining shows growing resilience and geographic flexibility<\/a>.<\/p>\n<\/div>\n![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/7825424e-c1ba-4bd2-bf5d-7af433d77fbf.png\" "\\"\\"")
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Experts still calling for 300eh+ average by December.<\/p>\n