Bitcoin mining difficulty reached an all-time high on October 10, meaning it is more difficult than ever to mine the major crypto asset. following a September 27 difficulty drop, block high 758 ,016, the network’s mining difficulty was 13.55% higher, printing the highest difficulty increase recorded this year.
Discovering the rewards of bitcoin blocks is now 13.55% more difficult as network mining difficulty hit an all-time high at 35.61 trillion
Five days ago, the bitcoin hash rate hit an all-time high (ATH) of 321.15 exahash per second (EH/s) with a block height of 757,214. While the hash rate was even higher, the speed at which blocks were discovered was less than 10 minutes per interval. If blocks are mined faster than normal, after 2,016 blocks have been mined, the network difficulty adjustment retargets with increased difficulty; if blocks are discovered too slowly during the 2,016 block period (2 weeks), the difficulty is conversely reduced.
Even after tapping the hash rate ATH on October 5, block times are faster than the 10-minute average, and on October 9 The block interval is widening in . At the time of this writing, even after the latest difficulty increase, bitcoin block generation time is still around 8.7 minutes. Furthermore, the current hash rate after the difficulty change is approximately 244.03 EH/s. The difficulty increase of 13.55% is a notable increase; records show that the second largest increase (9.32%) took place on January 20, 2022, making it the largest so far in 2022.
The latest rise boosted the network’s difficulty to an all-time high of 32.05 trillion recorded on September 13. As a result of the retargeting today, the current difficulty is 35.61 trillion and will remain at this parameter for the next two weeks. Currently, the top mining pool for Monday, October 10, is Foundry USA, with 29.22% of the network’s total hash rate; Foundry has dedicated roughly 75.87 EH/s to theblockchain; BTCThe pool has discovered 149 of the 510 blocks discovered in the past 3 days. {Antpool is the second largest mining pool, accounting for 20.39% of the global hash rate, or approximately 52.95 EH/s. Antpool, a mining pool managed by Bitmain, has discovered 104 blocks out of 510 blocks discovered in the last 3 days. discovered. Statistics show that today there are 12 known mining pools dedicating SHA256 hash rates to theBTCchain; BTCchains dedicate SHA256 hash rates; and BTC
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With the bitcoin price so low, the network’s mining pool is making less money in the highest difficulty level recorded in over 13 years. Prior to this change, mining revenue per petahash per second (PH/s) was about $44} $80per PH/s, now it is $70} At $0.12 per kilowatt-hour (kWh), mining rigs are making only three models profitable and At an electricity cost of $0.07 per kWh, approximately 35 models of mining rigs are currently profitable.
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