September also saw bitcoin difficulty – a measure of how hard it is to mine a new block in the network – hit an all-time high. Bitcoin’s difficulty is a measure of how hard it is to mine a new block in the network, which adjusts every 2,016 blocks based on the computational power, ensuring the blocks are consistently mined every 10 minutes. Meanwhile, the hashprice, a measure of miners’ profitability, hit a one-month high at $48.0 PH/s, according to Glassnode, despite remaining near all-time lows.
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