OREANDA-NEWS Bitcoin has risen in price over the past day by almost 10% and at 10:45 Moscow time it reached $ 11,860, according to Coindesk. The sharp rise which began around 3:00 by Moscow time is associated with an increase in the complexity of bitcoin mining by the payment system itself.

The Bitcoin algorithm monitors the number of participants mining cryptocurrency, and adjusts the complexity of its mining about once every two weeks so that the mining itself always takes about 10 minutes, regardless of the number of network participants and the power of their computers and mining farms. According to BTC.com, over the past two weeks, the average bitcoin mining capacity has grown by about 10%. This is equivalent to connecting to the network of 100 thousand of the latest mining processors.

The surge in miner activity is associated with the positive dynamics of cryptocurrency in recent months, as well as the beginning of the rainy season in southwestern China: about 50% of the global amount of mining equipment is operating in this region - heavy rains mean lower electricity costs.