Bitcoin Fails to Produce a Block for Over an Hour on Monday

Bitcoin Fails to Produce a Block for Over an Hour on Monday

Alt coin
October 17, 2022 by keithhill530
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[ad_1] On Monday, it took an hour to mine a Bitcoin (BTC) block, which prevented thousands of transactions from being completed. According to on-chain data, the time between the two recent blocks mined by Foundry USA and Luxor was 85-minutes. The delay left thousands of transactions left in a pending state. According to Mempool, over
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On Monday, it took an hour to mine a Bitcoin (BTC) block, which prevented thousands of transactions from being completed. According to on-chain data, the time between the two recent blocks mined by Foundry USA and Luxor was 85-minutes.

The delay left thousands of transactions left in a pending state. According to Mempool, over 13,000 transactions were stuck in the pipeline before that delayed block was mined.

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The mining industry is going through a rough phase at the moment as it is becoming difficult to deal with soaring energy prices during a crypto bear market. Mining Bitcoin has become harder as we saw BTC mining difficulty reach an all-time high last week. It has now gone above 36.1 trillion hashes, and mining Bitcoin has become quite expensive. Bitcoin’s hash rate has also gone to an all-time high of 257 hashes.

However, it is still unclear what caused the delay in the latest Bitcoin block production.

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