What Specific Formula Is Used to Calculate the Bitcoin Mining Difficulty Adjustment?
The Bitcoin difficulty adjustment is calculated by taking the expected time for 2016 blocks (two weeks) and dividing it by the actual time it took to mine the previous 2016 blocks. This ratio is then multiplied by the current difficulty level.
The formula is: New Difficulty = Current Difficulty (Target Time of 2016 Blocks / Actual Time of 2016 Blocks). This ensures a self-regulating network.