Bitcoin Mining Difficulty Hits a Lifetime High After a 5.56% Increase, Metric Nears 30 Trillion
Bitcoin’s mining difficulty reached a lifetime high on April 27, at block height 733,824, after jumping 5.56% higher than two weeks ago. The difficulty jump further indicates that Bitcoin’s difficulty is also nearing 30 trillion, as the change on Wednesday shows the current difficulty is 29.79 trillion.
It Is Now the Most Difficult Time in History to Mine Bitcoin After the Last Difficulty Increase
- On Wednesday, April 27, 2022, after block 733,824 was mined, it is now the most difficult time in history to mine bitcoin (BTC). Currently, and for the next two weeks, Bitcoin’s difficulty will be 29.79 trillion until the next difficulty adjustment.
- Bitcoin’s hashrate today is running high at 252.39 exahash per second (EH/s) after reaching an all-time high on April 23, 2022, at block 733,197. At that time, the hashrate tapped a high of 271.19 EH/s.
- While the estimation could very well change over the next two weeks, the network’s difficulty is estimated to drop 0.07% during the next difficulty adjustment. On April 14, bitcoin miners caught a break when the difficulty dropped by 1.26% at block height 731,808.
- The estimated hashrate over the last 90 days was 201.8 EH/s the next difficulty retarget is expected to happen on or around May 10, 2022. Using today’s BTC exchange rates, the current block subsidy of 6.25 BTC is roughly $245,531.
- At the time of writing, there are 106,167 blocks left until the next halving occurs, which means almost half the time in between each halving has occurred. In roughly 48 hours, the halfway point up until the halving, in terms of block count will take place.
- The halving is expected to occur on or around April 27, 2024. Miners will see the block subsidy halved from 6.25 BTC to 3.125 BTC after that point in time.
- On April 27, 2022, and over the last three days, Foundry USA has been the top miner capturing 87 of the 473 blocks mined in that timeframe. Foundry commands 18.39% of the global hashrate or 41.05 EH/s.
- Foundry is followed by Antpool, in terms of three-day pool statistics, as Antpool found 75 blocks out of the 473 blocks mined. Antpool’s hashrate is 15.86% of the global processing power or roughly 35.39 EH/s.
What do you think about Bitcoin’s difficulty jumping 5.56% higher and nearing the 30 trillion mark? Let us know what you think about this subject in the comments section below.