Bitcoin Mining Difficulty Drops for the Third Time in 2022, Just Over 100K Blocks to Go Until the Halving – Mining Bitcoin News

Bitcoin miners have received their third break this year as the network’s mining difficulty adjusted downward by 1.26% on April 14 at block height 731,808. As hashrate rose after the difficulty decrease, miners now have over 200 exahash per seconds (EH/s). Additionally, bitcoin miners have another 108,160 blocks to go until the bitcoin reward halving that’s estimated to occur on or around May 3, 2024.

In 2022, Bitcoin miners get their third break

Bitcoin’s mining difficulty adjustment algorithm (DAA) dropped on Thursday, as the parameter slid by 1.26% at block height 731,808. This is the third DAA decrease in 2022. The difficulty dropped by 0.35% and 1.49% respectively on March 17. In 2021, the DAA dropped seven times and saw one of the largest reductions over the course of Bitcoin’s lifetime on March 7, 2021, sliding 27.94% lower that day. Since the change, BTC’s hashrate has increased and is presently hovering just over the 200 EH/s zone.

Miners will find it much easier to locate blocks with the drop of 1.26%. The difficulty level was 28.59 trillion just two weeks ago, and is currently at 28.23 trillion today. There are still 1,982 blocks to go before the next DAA adjustment. Currently, it is expected to increase but being that it’s roughly two weeks away, the estimate could be very different by then. It is anticipated that the next DAA update will occur in April 2022. The current block subsidy of 6.25 BTC is worth $252,781 using today’s BTC exchange rate and in 751 days, that will change.

Only 100,000 Block Reward to be Posted Until the Halving. There will also be more Bitcoin Mining Pools joining the fray

Bitcoin miners move closer to the block reward halving, which is anticipated to take place on or about May 4, 2022. However, there are some estimates that it could be May 3,2022. BTC miners can expect to see their 6.25 BTC block reward halved to 3.125 BTC blocks. Right now the network produces 900 BTC per day (144 blocks) and Bitcoin’s inflation rate per annum is 1.74% at the time of writing. 90.53% have already been mined, and 1,988,481.23 BTC are still to be issued.

Foundry USA, which has 72 blocks and 16.63% of the total amount of hashpower (33.54 EH/s), is currently the best-known mining pool. Some pools joined the ranks in recent days. There are currently 14 active pools, while there was only eleven pools that were mining bitcoin two weeks ago. Unknown hashrate, or stealth miners, currently control 1.39% or 2.8 EH/s of global hashrate. Unknown hashpower managed to obtain six blocks in the past three days.

What do you think about the network’s mining difficulty dropping? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been active since then. 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.