Bitcoin's Hashrate Surges Reaching a Lifetime High, Difficulty Expected to Jump Next Week

Bitcoin Hash Rate Reaches Lifetime High, Difficulty Expected to Jump Next Week – Bitcoin Mining News

Bitcoin’s hash rate benefited from this weekend’s high of 271.19 EH/s on Saturday 23rd April at block high 733197. Currently, computational strength is heading to 233.81 EH/s with a network difficulty change expected three days after Now on April 27.

Hashrate Bitcoin Reaches All-Time High, Hashpower Has Gained 55% Higher Since January

The processing power that confirms transactions and secures the Bitcoin (BTC) network reached an all-time high (ATH) on Saturday, April 23. The hash rate touched 271.19 EH/s, which is approximately 271,190 petahs per second (PH/s) or 271,190,000,000,000,000,000 hashes per second (H/s).

Bitcoin’s hash power has never been higher than this point in history, and since the 717,696 block rise or January 8, 2022, the record hash rate has increased by 55.48% since then. The processing capacity supporting the Bitcoin network reached ATH 246 EH/s on February 12, before an all-time high set on Saturday.

Bitcoin Hash Rate Reaches Lifetime High, Difficulty Expected to Jump Next Week
Bitcoin hash rate according to on April 24, 2022. The network reached an all-time high of 271.19 EH/s on Saturday, April 23 at block high 733197.

After changing the descending difficulty adjustment algorithm (DAA) at block height 731808, which saw a 1.26% decrease in difficulty, the network is expected to see an increase in DAA in about three days. Since the hash rate operates at such high speeds, DAA is expected to increase by 3.21%.

If the estimated 3.21% increase in DAA pays off, the difficulty of the Bitcoin network will jump from the current 28.23 trillion to its lifetime high of 29.13 trillion. Currently, Sunday afternoon (ET), the 6.25 BTC backing block reward is currently valued at $247,063 using today’s bitcoin exchange rates.

As Bitcoin hashpower tapped ATH on Saturday, over the past three days, the largest mining pool was Foundry USA, which captured 22.55% of the global hashrate. Statistics show that 47.89 EH/s of the Foundry allowed the pool to find 106 out of the previous 470 blocks found in 13 pools. The second largest bitcoin miner under Foundry USA was Binance Pool with 12.98% or 27.56 EH/s from hashpower.

While the stats show that the bitcoin price was not the best first quarter of 2022, the hash rate that has increased over 55% since that time is a huge achievement. Metrics indicate that the current value of BTC is profitable to mine using most ASICs with 25 TH/s or more. At press time, the Bitmain Antminer S19 Pro (110 TH/s) miner with electrical costs of $0.12 per kWh will see an estimated profit of $10.23 per day.

Tags in this story

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What do you think of Bitcoin’s hash rate hitting a life high of 271 EH/s on Saturday? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for News about the disruptive protocols emerging today.

photo credits: Shutterstock, Pixabay, Wiki Commons

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