Following the largest difficulty increase the Bitcoin network has seen in 2022, the network’s hashrate has not been affected by the 13.55% increase. In fact, five days ago at block height 758,138, the network’s computational power surpassed the all-time high (ATH) recorded on October 5, as it reached 325.11 exahash per second (EH/s) on October 11. Additionally, the block generation time intervals are less than ten seconds per block. A notable difficulty increase will be expected on October 23.
325 EH/s — Bitcoin’s Hashrate Taps Another ATH Following the Last Difficulty Retarget
It’s been six days since Bitcoin’s last difficulty retarget, which saw the The largest increase this yearWhen the metric rose 13.55% above the difficulty setting codified 2,016 block before block 758.016.
Despite the difficulty increase and bitcoin’s (BTC) U.S. dollar value sliding to $18,183 on October 13, the network’s computational power has remained red-hot as another all-time high record (ATH) was RecordedThis entry was posted on October 11.
On that day, Bitcoin’s hashrate reached 325.11 EH/s at block height 758,138, which is a 1.23% increase since the ATH hashrateRecorded on October 5 at block height of 757,214. As of the date of writing Statistica from coinwarz.com, BTC’s total hashrate is just above the 289 EH/s zone.
Block generation times for BTC are significantly quicker than the average ten minute block time due to high hashrate. According to data, the BTC block generation speed is currently around 8.22 minutesIf the block generation speed continues to increase, there will be another major difficulty.
Top 3 Bitcoin Mining Pools Allowed 50 EH/s
Even though the 13.55% difficulty increase has been taken into account, the estimates suggest that October 23rd will see an expected rise in difficulty. 3.59%To 5.5%. The mining pool Foundry USA in America captured 101 blocks of the total that were extracted over the course of 72 hours. Global hashrate is 21.49% owned by Foundry. 57.08 EH/s.
In fact, the top three mining pools have more than 50 EH/s of hashrate per pool, which means three-quarters of the chain’s computational power is backed by Foundry, Antpool, and F2pool. There’s currently 12 known BTC mining pools today dedicating SHA256 hashpower toward the Bitcoin blockchain, and 2.13% or 5.65 EH/s is controlled by unknown hashrate otherwise known as stealth miners.
Miners are making very little profit, with bitcoin mining profits at an all-time low of $70 per petahash (PH/s) Today’s Bitmain Antminer S19 XP has a lower profit due to electrical costs of 0.05 U.S. cents per kilowatthour. (kWh). This is despite the fact that it produces 140 terahash per minute (TH/s) and a kilowatthour cost (kWh) of 0.05 U.S. cents. $1.43 per dayBTC profit
What do you think about Bitcoin’s hashrate remaining red-hot and recording new all-time highs despite the lower price and high difficulty rating? Comment below and let us know your views on the subject.
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