Bitcoin’s Hashrate Taps an All-Time High, Next-Gen Machine Deployment Could Push it Much Higher – Mining Bitcoin News

Bitcoin’s hashrate has once again reached an all-time high (ATH) this year, as the network’s processing power reached 275.01 exahash per second (EH/s) on May 2, 2022. The recent ATH follows a significant difficulty jump on April 27, and bitcoin’s value lost 6.2% against the U.S. dollar over the last two weeks.

Bitcoin Hashrate Taps to 275 Exahash

Just recently, Bitcoin’s mining difficulty tapped an ATH at 29.79 trillion and it’s currently the most difficult it has ever been to find a BTC block reward. On April 27, after coasting along at 28.2 trillion for two weeks prior, the network’s difficulty jumped 5.56% higher.

Bitcoin miners continue to maintain a high speed tempo despite difficulty increasing. BTC also lost 6.2% over the last 2 weeks against the U.S. dollars. Bitcoin miners also lost more profit during this two-week slump due to the price fall.

Even with these two setbacks bitcoin miners managed to push the hashrate higher than ever in terms of its computational processing power. The hashrate reached the highest it’s ever been at 275.01 EH/s on May 2, 2022, at block height 734,577.

Prior to April 23, when the block height was 733,197 blocks, the network had reached an AT 1,380 blocks. The ATH was at 271.19 EH/s. The data shows that the hashrate overall increased by 1.40% over seven days since block height 733.197.

Soon-to be Deployed Next Generation Miners

According to seven-day statistics, Foundry USA is the most popular mining pool. It seized 233 of 1,071 BTC blocks last week. Foundry USA holds 21.76% network hashpower and has a 49.29 EH/s on average for the past seven days. Antpool took home 145 blocks subsidy rewards, making it the second-largest mine pool.

Antpool holds 13.54% (or 30.68 EH/s) of global hashrate for the week. Today there are twelve pools that have committed hashpower and resources to BTC networks. 0.93% (or 2.12 EH/s) is controlled by unidentified bitcoin miners.

With Bitcoin’s hashrate reaching an all-time high before bitcoin mining rig manufacturers have shipped the latest next-generation machines, the hashrate could very well go much higher from here. Next-generation mining rigs from Bitmain, Microbt and others, that pack more hashrate than the current generation, will ship in March.

Moreover, Bitmain’s hydro bitcoin mining rig, the Antminer S19 Pro+ Hyd., commands 198 TH/s and has been released this month. Depending on lead times, miners could be deploying these high powered, next-generation miners and upping the network’s overall hashrate a great deal.

How do you feel about hashrate hitting new heights May 2,? Is it possible that the hashrate will rise after new-generation machines become available? 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. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.