Bitcoin Mining Difficulty Factor Hits a Flat Curve as Coronavirus Rages in China

Bitcoin Mining Difficulty Factor Hits a Flat Curve as Coronavirus Rages in China

The outbreak of the new coronavirus in China has halted economic activities in the mainland which is the key producer of Bitcoin mining Hardware. As fewer mining machines are added to mine Bitcoin, the difficulty algorithm is relaxed as the competition between miners reduces. The Universal hashing power towards the Bitcoin network is somewhat constant.