Bitcoin"s Hashpower Drops, BTC Mining Difficulty Expected to Jump Higher in 4 Days
The processing power behind the Bitcoin network has dropped 30% since the hashrate’s all-time high (ATH) on February 15, sliding from 249 exahash per second (EH/s) to 169 EH/s. Furthermore, four days from now, the network’s mining difficulty is expected to increase following the 4.78% epoch change on February 17. Bitcoin Hashrate Drops From 249 Exahash per Second to 169 EH/S in 12 Days
From January 13 to February 15, Bitcoin’s hashrate was coasting along at record highs for roughly 33 consecutive days. This weekend, on Sunday, February 27, 2022, the hashrate has dropped 30% from the 249 EH/s ATH captured on February 15. At the time of writing, Bitcoin’s (BTC) network hashrate is around 168.14 EH/s or 168,144,793,932,750,200,000 hashes per second (H/s). The six-month chart indicates that Bitcoin’s global hashrate has dropped 30% since the hashrate’s all-time high (ATH) on February 15, 2022.
Meanwhile, bitcoin’s price has been lower than usual but 30-day statistics show the price per BTC is up 4.4%. Although, bitcoin mining monthly revenue and 7DMA revenue mining stats are down according to onchain metrics. The drop in processing power speed may help drop the next difficulty change, as it’s expected to increase by 1.18% in four days to 27.64 trillion. If the difficulty does increase in four days, it will be the seventh consecutive difficulty increase since November 28, 2021.
Currently, the top bitcoin mining pool during the last three days is Foundry USA with 20.52% of the global hashrate (38.85 EH/s) and finding 79 block rewards within that time frame. Foundry USA is followed by Antpool’s 30.49 EH/s or 16.10% of the global hashrate. At the time of writing, three-day metrics indicate that there’s 11 known bitcoin mining pools today. Unknown hashrate or stealth miners command 1.3% of the global hashrate or 2.46 EH/s of hashpower capturing five block rewards in three days.
Presently, the most-profitable SHA256-based application-specific integrated circuit (ASIC) bitcoin mining device is the Bitmain Antminer S19 Pro 110 terahash per second (TH/s) machine. Using today’s BTC exchange rate and $0.12 per kilowatt-hour (kWh), the Antminer S19 Pro makes just over $10 per day. The Microbt Whatsminer M30S++ (112 TH/s) makes $9.82 per day in bitcoin profits. Tags in this story 11 known pools, 169 EH/s, 249 EH/s, Antpool, ASIC, ASIC miners, ATH, Bitcoin mining, Bitmain Antminer, BTC exchange rate, BTC Mining, difficulty, difficulty increase, Foundry USA, hashrate ATH, hashrate drop, Microbt Whatsminer, mining, Mining Pools, SHA256-based, Unknown Hash
What do you think about the hashrate dropping after it hit an ATH on February 15? What do you think about the next estimated difficulty drop expected in four days? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living 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 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. China Mining Ban Worsened Bitcoin’s Carbon Footprint, Study Claims MINING | 1 day ago Russian Bitcoin Mining Assessed Amid Conflict With Ukraine, Large ETH Pool Cancels Service to Russia MINING | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto Donations Pour in After Ukraine Government Asks for Bitcoin and Ether — $17 Million Raised so Far Next articleElon Musk Hears Kyiv’s Call, Activates Starlink Service in Ukraine Show comments More Popular NewsIn Case You Missed ItFarmville Creator Zynga to Launch NFT Games, Says Gaming Firm"s Blockchain Lead
American social game developer Zynga has plans to launch non-fungible token (NFT) games in the near future. Zynga’s vice president of blockchain, Matt Wolf, told the press that the company is looking at the cycle right now and “figuring out ... read more.India Won"t Legalize or Ban Crypto at This Stage, Finance Minister Confirms McDonald’s Trademark Filings Hint at Fast Food Giant"s Intent to Produce Metaverse Restaurants Fintech Specialists Predict Ethereum Price Hitting $6,500 This Year Before Rising to $26,338 by 2030 City of Miami Gets $5.25M Disbursement From Miamicoin as MIA Flounders 88% Lower Than Price High