Bitcoin Hashrate Hits Another Milestone, Network’s Mining Difficulty Taps 13-Year High

Bitcoin Hashrate Hits Another Milestone, Network"s Mining Difficulty Taps 13-Year High

The processing power backing the Bitcoin network has continued its upward momentum tapping another all-time high (ATH) on February 15, 2022, at 249 exahash per second (EH/s). Following the latest ATH, the network’s mining difficulty increased on Thursday morning (EST), up 4.78% and reaching a value of 27.97 trillion. The mining difficulty has increased six times in a row since November 28, 2021, which makes it 23.34% harder for bitcoin miners to find bitcoin block rewards since then. Bitcoin Hashrate Cracks Another ATH, Block Rewards Become Much Harder to Find After Difficulty Jumps Close to 5% Higher

At the time of writing, the Bitcoin network’s hashrate is coasting along at 212.21 EH/s after cracking a new ATH on Tuesday, February 15. On that day, the hashrate climbed to 249.75 EH/s, according to coinwarz.com’s six-month statistics. The new ATH follows the high recordedthree days prior when the hashpower metric tapped 246 exahash per second (EH/s) on February 12. After the new 249 EH/s high on Thursday, the network’s difficulty increased by 4.78% to another lifetime high. Bitcoin (BTC) network hashrate on February 17, 2022.

At the time of writing and for the next 13 days, the mining difficulty will be approximately 27.97 trillion. It’s a lot higher than the low difficulty value recorded 215 days (seven months) ago on July 17, 2021. At that time, BTC’s network difficulty was only 13.67 trillion because it experienced four decreases in a row — one of them being the largest decrease in history on July 3, 2021 (-27.94%). Bitcoin (BTC) network difficulty on February 17, 2022.

However, since July 17, there have been 16 different difficulty adjustment algorithm (DAA) changes and 15 of them increased. The last decrease recorded in the seven-month spread was on November 28, 2021, dropping 1.49%. The jump from 13.67 trillion to the current 27.97 trillion is an increase of 104.60% in seven months. The hashrate seven months ago was less than half the value it is today, at 97.87 EH/s.

While bitcoin miners have recorded another ATH, the top pool during the last three days is Foundry USA with 15.59% of the global hashrate and 33.62 EH/s. The second-largest miner during the last three days is F2pool with 14.76% of the world’s hashrate and 31.83 EH/s. Foundry USA and F2pool are followed by Antpool, Poolin, Binance Pool, Viabtc, Slushpool, Btc.com, SBI Crypto, and Luxor, respectively.

There are 12 entities dedicating hashrate to the BTC chain and 11 of them are known pools. Currently, unknown hashrate or stealth miners have the least amount of hashrate with 0.83% of the global hashrate, or 1.79 EH/s of dedicated SHA256 hashpower.

With the current global hashrate coasting along above the 200 EH/s range, the next epoch DAA estimated to come in 13 days is currently expected to be another increase. While the estimate could change, right now it’s expected to jump 0.04% from the current 27.97 trillion to 27.98 trillion. Tags in this story 11 known pools, 249 Exahash, 249.75 EH/s, Antpool, Binance Pool, Bitcoin hashrate, Bitcoin Miners, BTC hashpower, BTC Hashrate, BTC miners, BTC.com, difficulty, Exahash, F2Pool, Foundry USA, Global Hashrate, Hashpower, Hashrate, Luxor, Miners, Mining Difficulty, Mining Pools, Over 200 EH/s, pool distribution, Poolin, Price, Sbi Crypto, Slushpool, Unknown Pool, ViaBTC

What do you think about the hashrate reaching new highs and the difficulty increasing close to 5% on Thursday? 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. Russia’s Economy Ministry Calls for Introducing ‘Acceptable’ Electricity Rates for Miners MINING | 9 hours ago Monero Supporters Beg XMR Miners to Boycott Mining Pool Capturing 44% of the Network Hashrate MINING | 3 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleLargest Spanish Crypto Exchange, Bit2Me Goes Global With Airdrop: 1 Million Participants in 72 Hours Next articleBeetlejuice Gets 1-of-1 NFT: Exclusive One-and-Only NFT of Pop Culture Icon Is Now Being Auctioned on Goldin Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItStudents Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says

University students in Russia minting digital currencies in their dormitories risk penalties and even criminal charges, according to a legal expert quoted by local media. The warning comes as Russian authorities are trying to curb crypto mining with cheap energy ... read more.PUBG Developer Parent Company Krafton to Work On NFT and Metaverse Related Projects Binance Invests $200 Million Into the Business Magazine and Digital Publisher Forbes Global Regulators "Going Full Steam" on Crypto — Official Says "Current Structure Is No Longer Fit for the Purpose" JPMorgan Predicts Long-Term Bitcoin Price of $150K — Outlines Challenges Ahead