On March 23, 2023, bitcoin experienced another increase in difficulty, following two rallies in the past month, flying 7.56% higher. Currently, bitcoin miners are undeterred by this rise, as the network hash rate is coasting at 346 exahashes per second (EH/s).
Bitcoin hash rates remain high despite the recent 7.56% increase in difficulty
At the time of writing, more than 1,700 blocks remain until the next difficulty retarget on April 5, 2023. despite the March 23 difficulty increase with a block height of 782,208, hash rates remain high and block intervals remain faster than the 10-minute average. on April 5. change is expected to be about, up 6.9%. This is because block times ranged from 9:21 to 9:14 minutes.
The increase in block height of 782,208 waswhich is 7.56% higher than the difficulty of the previous two weeks. Prior to that, on February 24, 2023, at block height 778,176, the difficulty increased by 9.95%, and on March 10, 2023, at block height 780,192, the difficulty jumped 1.16%. In other words, over the past six weeks, bitcoin miners have dealt with three consecutive difficulty increases totaling 18.67%.
The difficulty is now at 46.84 trillion, 3.16 trillion hashes away from hitting the 50 trillion mark for the first time. If the currently estimated 6.9% increase materializes, the difficulty could reach 53.74 trillion by April 5, 2023. Statistics indicate that March bitcoin mining revenues could end up slightly lower than February’s $613 million. According to incomplete monthly data, miners have collected $561 million since March 1.
Over the past three days, 488.BTCblocks were mined into existence, and Foundry USA found 149 of them.Foundry’s hash rate over the three days was approximately 105.71 EH/s, which is about the same as Bitcoin’s total Following Foundry were Antpool (73.78 EH/s), F2pool (51.79 EH/s), Binance Pool (34.76 EH/s), and Viabtc (31.93 EH/s). Antpool together command 51.84% of Bitcoin’s global hash rate.
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