Despite Significant Difficulty and Low BTC Price, Bitcoin’s Hashrate Continues to Climb Higher

Despite Great Difficulty and a Drop in BTC Price, Bitcoin Hashrate Continues to Rise – Bitcoin Mining News

After the Bitcoin network experienced the biggest difficulty in 2022, the network’s hash rate was unaffected by the 13.55% increase. In fact, five days ago at block height 758138, the network’s arithmetic power exceeded its all-time high (ATH) on October 5, reaching 325.11 exahs per second (EH/s) on October 11. Moreover, the block generation intervals are less than ten minutes per block, which means that another significant increase in difficulty is expected on October 23.

325 EH/s Hashrate Bitcoin Clicks Another ATH After Last Retargeting Difficulty

It’s been six days since the last Bitcoin retargeting difficulty, which saw Biggest hike this year When the scale jumped 13.55% higher than the rated difficulty setting of 2,016 blocks before block 758,016.

Although it is difficult to increase Bitcoin (BTCThe value of the US dollar fell to $18,183 on October 13, and the network’s arithmetic power remained so hot it was another all-time record (ATH) registered On October 11th.

Despite the great difficulty and the drop in BTC price, Bitcoin Hashrate continues to rise

On that day, Bitcoin’s hash rate reached 325.11 EH/s at block high 758,138, which is a 1.23% increase since ATH . hash It was recorded on October 5, at block altitude of 757214. At the time of writing, according to Statistics from coinwarz.com, BTCThe total hash rate is just above the area of ​​289 EH/s.

The tempo hash rate made this matter, so block times are much faster than the 10-minute average. The data shows that the current BTC It’s time to generate mass 8.22 minutes And if the fast block generation time continues, another difficulty will be evident in the cards.

Top 3 Bitcoin Mining Pools Control 50 EH/s Each

Even after the difficulty increased by 13.55%, it is estimated that on October 23, the difficulty is expected to increase by 3.59% to me 5.5%. Over the past three days, 470 blocks have been mined and the Foundry USA mining pool has captured 101 blocks of the total mined in 72 hours. Foundry asks for 21.49% of the global hash rate or 57.08 EH/sec.

In fact, the top three mining pools contain more than 50 EH/s of hashes per pool, which means that three-quarters of the computational power of the chain is backed by Foundry, Antpool, and F2pool. There are currently 12 known BTC Today’s mining pools dedicate their SHA256 hash power towards the Bitcoin blockchain, and 2.13% or 5.65 EH/s is controlled by an unknown hash rate also known as crypto miners.

Earnings are still too tight for miners, and bitcoin mining earnings are all-time lows below $70 per petahash per second (PH/s). With electricity costs of $0.05 nominal per kilowatt-hour (kWh), the Bitmain Antminer S19 XP with 140 terahash per second (TH/s) is getting a much lower profit today at a price $1.43 per day in BTC earnings.

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What do you think of the Bitcoin hash rate that remains super hot and hits all-time highs despite the low price and high difficulty rating? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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