Following the last two difficulty increases in the bitcoin network, another difficulty increase is expected on March 24, 2023. Statistics show that despite the last two adjustments, bitcoin hash rates have remained high and block times are faster than the 10-minute average.
Bitcoin difficulty is expected to increase following the last two consecutive increases
At the time of this writing, Bitcoin difficulty is at an all-time high of 43.55 trillion and the network hash rate remains in the 300 exahash per second (EH/s) range at 319.86 EH/s. Bitcoin has gained 26.2% over the past two weeks against the USD, greatly helping bitcoin miners,and the spot value of BTCnow exceedsthe costto mine it.
Bitcoin miners have dealt with two consecutivedifficulty increasesin the last month, with the first difficulty flying 9.95% higher on February 24, 2023, and the second 1.16% higher on March 10. The increase does not appear to have affected bitcoin miners, as block interval times (the time it takes for each block to be mined) are still below the 10-minute average. Currently, block times are between9 minutes 28 secondsand 9 minutes 31 seconds.
At this time, the estimated change in difficulty on Friday, March 24 is expected to be between2.51%and5.7%higher than the current 43.55 trillion. If miners maintain or accelerate that pace, the next adjusted difficulty could exceed the 50 trillion hash mark. Current estimates put the target range between 44.64 trillion and 49.25 trillion.
MiningDistribution Statisticsshow Foundry USA is currently the top bitcoin mining pool with 97.22 EH/s, or 30.31% of the global hash rate Foundry has 61.03 EH/s Antpool, 46 .13 EH/s, followed by F2pool, which is at 61.03 EH/s. The top five bitcoin mining pools, including Foundry, Antpool, F2pool, Binance Pool, and Viabtc, have 84.52% of the global hash rate as of March 21, 2023, according to the three-day index. Conducting.
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