After bitcoin miners caught a break ten days ago when the difficulty dropped 1.49% lower, the network’s hashrate increased more than 15% since then. While the current process power hovers above 200 exahash/second (EH/s), another increase in difficulty is likely to take place within the next 4 days.
Bitcoin’s Hashrate Increases Following the Downward Difficulty Drop 10 Days Ago
Bitcoin’s hashrate slipped two weeks ago on February 27, 2022, to 169 EH/s after touching an all-time high (249 EH/s) on February 15. The difficulty dropped for the first month after the decrease in bitcoin processing power.
After six consecutive difficulty rises, the difficulty fell 1.49% on March 3. Currently, Bitcoin’s mining difficulty is 27.55 trillion and following the last adjustment, processing power has improved.
Bitcoin’s hashrate increased over 15% since the difficulty change and 29% since the hashrate hit 169 EH/s two weeks ago. Currently, the network’s processing power is roughly 218.11 EH/s and over the last ten days its managed to stay above the 200 EH/s range.
The next epoch of mining difficulty adjustments is scheduled to take place in under four days. Its expected that it will rise by 1.03%. The mining difficulty could change to 27.55 trillion if the increase is greater than 1%.
Foundry USA Holds the Lead Stealth mining diminishes, alternative networks ride just below hashrate highs
Foundry USA is the most active miner in the past 72 hours according to three-day hashrate distribution statistics. The American mining operation has 42.42 EH/s dedicated to the Bitcoin blockchain which equates to 21.19 % of today’s hashrate.
F2pool is second in hashrate mining, with 30.93 EH/s. This processing power represents 15.45% worldwide hashrate. There are currently 11 mining pools that dedicate SHA256 hashrate to the BTC Chain at the time this article was written.
There’s 1.33 EH/s or 0.66% of the global hashrate operated by unknown or stealth miners. Although the Bitcoin network has been cruising at near-record levels, there have been some other networks which also hit record heights.
Monero’s speed is nearing all-time records (ATH), at 2.92 gigahash (GH/s), while Ethereum is at around 1.04 pechahash (PH/s). The hashrate ATHs of both Bitcoin and Monero are close to each other.
What do you think about the Bitcoin network’s hashrate increase over the last 10 days and the upcoming difficulty increase? Please comment below to let us know your thoughts on this topic.
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