According to data from the data platform, the BTC network computing power has reached a new high of 506.98 EH/s.

According to reference data, the total network Computing Power of Bitcoin reached 506.98 EH/s on October 16, setting a new historical high. The total network Computing Power of Bitcoin shows an overall upward trend, accompanied by certain fluctuations.

In addition, the mining difficulty of Bitcoin is also continuously increasing. According to data, the current mining difficulty of Bitcoin is 57.11T, which is an increase of 1.48% compared to the previous difficulty period. The mining difficulty of Bitcoin reached a historical high of 57.32T on September 19th this year.

It is worth noting that the difficulty of Bitcoin mining is positively correlated with the total network Computing Power. As the total network Computing Power increases, the mining difficulty also rises correspondingly to maintain the rhythm of approximately one block being mined every 10 minutes. This mechanism ensures the stability and security of the Bitcoin network.

The continuous increase in the overall computing power and mining difficulty of Bitcoin reflects miners' confidence in the Bitcoin network and their optimistic expectations for future price trends. However, this also means that the difficulty for individual miners to participate in mining is constantly increasing, and competition in the mining industry is becoming more intense.