Bitcoin’s Mining Difficulty Taps All-Time High — 220 Exahash of Hashpower Remains Strong
Bitcoin’s mining difficulty reached a new all-time high at block height 753,984 from 30.97 trillion hashes to 32.05 trillion hashes. After two difficulty increases during the past month, the network’s mining difficulty jumped another 3.45% higher on September 13.
Bitcoin’s Difficulty Reaches 32 Trillion
The leading cryptocurrency by market capitalization, bitcoin (BTC), is now a lot more difficult to mine. In fact, on Tuesday, September 13, 2022, the network difficulty tapped an all-time high at 32.05 trillion. Roughly two weeks or 2,016 blocks ago, the difficulty printed the second-largest increase in 2022 as it increased by 9.26%.
Two weeks or 2,016 blocks before the last change, the difficulty jumped slightly by 0.63%. Following the increase today, at block height 753,984, it has never been more difficult to find a bitcoin (BTC) block reward. Furthermore, BTC’s U.S. dollar value dropped over 9% on Tuesday afternoon (ET), following the recently published U.S. CPI report.
Despite the price drop and recent difficulty rise, BTC’s hashrate has remained above the 200 exahash per second (EH/s) range and at the time of writing, it’s running at 227.07 EH/s. During the past 24 hours, Foundry USA has been the network’s top pool with 26.85% of the global hashrate.
Foundry is followed by F2pool with 15.4% of BTC’s hashpower, and Binance Pool with 14.77% of the global hashrate. Binance Pool is followed by Antpool (13.42%) and Viabtc (10.74%) respectively. 149 blocks were mined in the last 24 hours, and Foundry USA discovered 40 of those blocks, while F2pool captured 23 blocks.
Currently, BTC block time is 9:17 minutes per block, and there’s 2,011 blocks left to mine until the next difficulty change expected on September 27, 2022. At current block interval speeds and the realized hashrate today, the network could see a negative 3.7% decrease.
What do you think about the recent difficulty change and the difficulty tapping an all-time high on September 13, 2022? Let us know what you think about this subject in the comments section below.
