When was the first time that the Bitcoin mining difficulty increased (When did Bitcoin mining start)?

The first time that the Bitcoin mining difficulty increased was on July 11, 2013, according to bitcoinexchangeguide. At that time, Coinbase, the largest cryptocurrency exchange in the world, announced the launch of a virtual product called “Bitcoin Core.” In the following months, due to intense competition between ASIC chip manufacturers and miners, as well as the continuous increase in hash rate, mining difficulty saw a significant increase. However, it wasn’t until June 2016 that mining actually began.

When did Bitcoin mining start?

According to bitcoinist, Bitcoin mining is one of the oldest domains in the cryptocurrency industry. Soon after the mining of the first block on March 13, 2009, the concept of “proof of work” (PoW) emerged, which is a special type of mechanism used in the world’s largest blockchain networks (proof of stake).

Since then, the price of BTC has risen from $2 to nearly $100,000. Now, with more and more investors entering the market and adopting this new asset class, it is being sold at higher prices and put into circulation until the halving event in 2010.