The Bitcoin blockchain recorded another difficulty increase on Sunday, January 29, 2023 with a block height of 774,144. The network’s difficulty increased by 4.68%, from 37.59 trillion to an all-time high of 39.35 trillion.
Bitcoin difficulty hit an all-time high as mining gets tougher
Bitcoin difficulty reached an all-time high again after rising 4.68%on Sunday, surpassing the record set two weeks ago. This rise occurred at a block highof 774,144at 6:10 AM UTC. The difficulty is currently at 39.35 trillion and is approaching the 40 trillion mark. The next adjustment is scheduled for February 11, 2023.
This increase makes it more difficult to mine blocks, with a jump of 4.68% following a 10.26% increase on January 15, 2023; statistics from January 29 show that the hash rate for the last 2,016 blocks is 279.7 exahashes per second (EH /s), currently hovering at283.55 EH/sdedicated to the bitcoin blockchain.
On January 28, 2023, macromicro.me statisticsestimated the cost ofBTCproduction at $21,176 per unit. On January 29, the spot price was $23,584 On January 29, the spot price was $23,584. Since the spot price is higher than the production cost, bitcoin (BTC) miners have recouped some of their losses from the end of 2022.
The pool distributioncalculated by discovered blocks shows Foundry USA as the top mining pool with 101.47 EH/s, equivalent to 34.89% of the network hash power; Antpool is at 57.54 EH/s and 19.79% of the network’s total hashrate; F2pool, Binance Pool, Viabtc, Btc.com, and Braiins Pool follow Foundry and Antpool, respectively.
With the increase in difficulty, the block interval, or the time between eachBTCblock, has increased. the interval between BTCblocks is now about a minute. This is slower than the most recent recorded two days ago, but still faster than the 10-minute average.
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