Bitcoin hash rates have declined in recent days after reaching a record high on June 8, 2022 with a block height of 739,928. 30-day statistics show that the hash rate has fallen from 243 exahashes per second (EH/s) to 178.44 EH/s today, down 26.56% in that time; after two consecutive drops, the Difficulty Adjustment Algorithm (DAA) is expected to drop again roughly 11 days from now or 1,600 blocks away.
After reaching an all-time high on June 8, bitcoin’s hash rate fell 26% in 30 days
The drop in bitcoin (BTC)prices has affected bitcoin miners who cannot see the gains they once made a month ago today. Using today’sBTC exchange rate, the value of the block grant was $136,625 per block and the average hash rate over the past 90 days was about 213.8 exahashes per second (EH/s).
On June 8, 2022, the hash rate hit a high of about 292.02 EH/s with a block height of 739,928 and is much lower today at 178.44 EH/s. According to statistics recorded last month,the hash rate for BTCslipped 26.56% lower than average after the first week of June.
whileBTC’sprice has declined and hovered just above the $21K area,while BTCminers caught a break during the last two DAA changes after seeing two downward adjustments. The last two DAA shifts made it 3.76% easier to findBTCblocks, and the next DAA change is expected to be 0.13% lower again.
40} But there are still 11 days until the next DAA change, and the time it takes to find 2,016blocks will determine the number of
BTCblocks found, which will determine whether the DAA goes up or down. since March 3, 2022. Bitcoin network has had six downward revisions and four upward.
Crunch time. Less than 100K blocks to go until the next block subsidy halving
While hashrates have dropped 26% over the past 30 days, 4,216 block subsidy rewards have been discovered by miners; Foundry USA has the most with 959 blocks discovered last month, about 22.75% of the global hashrate.
Foundry followed Antpool with 14.61% of the global hashrate, discovering 616 blocks last month.53} There are 14 knownBTCmining pools.BTC There are currently 14 mining pools with hash rate unknown or stealth miners were rewarded with approximately 56 blocks last month, which equates to 1.33% of the 30-day hash rate.
With less than 100K blocks left until the next reward halving (95,699 blocks away at press time), miners will see their income cut in half at that point. The half cut is expected to be around April 16, 2024, which is 647 days from now.
After that date, bitcoin miners will earn only 3.123BTCper block. BTCcompared to today’s 6.25block reward of only 3.123BTCper block. the profitability of a mining rig at $0.12 per kilowatt-hour (kWh) on the Saturday, June 9, 2022 index is low. The index shows that.
The most profitable ASIC mining rig today is the Bitmain Antminer S19 XP, which generates 140 terahashes per second (TH/s.) The Antminer S19 XP is making an estimated $5.13 in profit at an electricity cost of $0.12 per kWh.
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