After bitcoin miners went on hiatus ten days ago when the difficulty dropped 1.49%, the network’s hashrate has grown over 15% since then. Currently, the processing power has exceeded the 200 exahash per second (EH/s) zone, but another increase in difficulty should occur in less than four days.
Bitcoin hashrate rises after difficulty dropped 10 days ago
Bitcoin’s hashrate slipped two weeks ago, on February 27, 2022, to 169 EH/s after hitting an all-time high (249 EH/s) on February 15. Following the decline in processing power, bitcoin miners took a break when the difficulty decreased. for the first time in months.
On March 3, the difficulty dropped 1.49% after six consecutive difficulty increases before. Currently, the mining difficulty of Bitcoin is 27.55 trillion and following the latest adjustment, the processing power has improved.
Bitcoin’s hashrate is up over 15% since the difficulty change and 29% since the hashrate hit 169 PE/s two weeks ago. Currently, the network processing power is around 218.11 EH/s and over the past ten days it has managed to stay above the 200 EH/s range.
However, the next period of mining difficulty adjustment should take place in less than four days and should increase by 1.03%. If the rise above 1% takes place, the mining difficulty will drop from 27.55 trillion to 27.83 trillion.
Foundry USA continues to hold the lead, stealth mining declines, alt networks drop just below hash rate highs
Three-day hashrate distribution stats show that Foundry USA has been the top miner for the past 72 hours. US mining has 42.42 PE/s dedicated to the Bitcoin blockchain, which equates to 21.19% of the current hashrate.
The second miner in terms of hashrate over the last three days is F2pool with 30.93 PE/s of processing power, which represents 15.45% of the global hashrate. At the time of writing, there are 11 known mining pools dedicating the SHA256 hashrate to BTC chain.
There is 1.33 PE/s or 0.66% of the global hashrate mined by unknown or stealth miners. While the Bitcoin network is once again hitting near-record highs, a few other networks have also been hitting all-time highs.
Monero is advancing to near all-time highs (ATH) at 2.92 gigahash per second (GH/s) and Ethereum is around 1.04 petahash per second (PH/s). Like Bitcoin, both networks are just below hashrate ATHs.
What do you think of the increase in Bitcoin network hashrate over the past 10 days and the increase in difficulty ahead? Let us know what you think about this topic in the comments section below.
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