Bitcoin’s Hashrate Surges Reaching a Lifetime High, Difficulty Expected to Jump Next Week – Mining Bitcoin News

Bitcoin’s hashrate tapped a lifetime high this weekend reaching 271.19 exahash per second (EH/s) on Saturday, April 23 at block height 733,197. Current computational power sits at 233.81EH/s. A network difficulty increase is expected to occur three days after now, on April 27.

Bitcoin’s Hashrate Records an All-Time High, Hashpower Increased 55% Higher Since January

On Saturday, April 23, an all-time record was reached for the Bitcoin network’s processing power. The hashrate touched 271.19 EH/s, which is approximately 271,190 petahash per second (PH/s) or 271,190,000,000,000,000,000 hashes per second (H/s).

Bitcoin’s hashpower has never been higher than this point in history and since block height 717,696 or January 8, 2022, the hashrate’s record high is an increase of 55.48% since then. On Saturday, the Bitcoin network’s processing power reached an all-time high of 246 EH/s.

The network will see an expected increase in DAA within three days after a change to the downward difficulty adjustment algorithm. Due to hashrate’s high speed, the DAA should increase by 3.21%.

If the estimated DAA increase of 3.21% comes to fruition, Bitcoin’s network difficulty will jump from the current 28.23 trillion to a lifetime high of 29.13 trillion. Presently, on Sunday afternoon (ET), a block subsidy reward worth 6.25 BTC is currently valued at $247,063 using today’s bitcoin exchange rates.

As Bitcoin’s hashpower tapped an ATH on Saturday, over the last three days, the top mining pool was Foundry USA capturing 22.55% of the global hashrate. Statistics show that Foundry’s 47.89 EH/s has allowed the pool to find 106 out of the past 470 blocks found by 13 pools. Binance Pool was the second largest bitcoin miner after Foundry USA with 12.98%, or 27.56EH/s.

While statistics show that bitcoin’s price has not had the best first quarter in 2022, the hashrate increasing by more than 55% since that time is quite the feat. Metrics indicate that BTC’s current value is profitable to mine using most ASIC devices with 25 TH/s or more. Bitmain Antminer (110 TH/s), a mining device with $0.12 per Kilowatt-hour of electrical costs, will make an estimated $10.23 per Day profit.

What do you think about Bitcoin’s hashrate touching a lifetime high of 271 EH/s on Saturday? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.