Bitcoin Records Relief as Mining Difficulty Adjusts Lower
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Bitcoin has experienced a brief relief as its difficulty decreased by 0.49% on February 12, 2023, after recording an all-time high of 39.35 trillion in the last two weeks. This change offers a breather for bitcoin miners, who have seen a 14.94% increase in the last month. Currently, Bitcoin’s hashrate is at 289.14 exahashes per second (EH/s), following the decrease in difficulty at block height 776,160.
The network has operated at around 39.35 trillion hashes for the past two weeks, but with the latest decrease in difficulty, the network will now be set at 39.16 trillion hashes for the next two weeks. This recent change has resulted in block times varying from roughly 10 minutes and 7 seconds to roughly 11 minutes and 14 seconds in length. Bitcoin’s next difficulty retarget is expected to happen around February 26, 2023.
Top Bitcoin Mining Pool Statistics
Foundry USA has been the top mining pool over the past three days with 33.26% of the global hashrate, while Antpool has 15.97% and Binance Pool has 15.54% of computational power. F2Pool and Viabtc follow with 14.22% and 9.41%, respectively. Presently, there are 12 known mining pools, with the top five controlling 88.4% of the global hashrate.
The recent decrease in difficulty provides a momentary reprieve for Bitcoin miners, as they have been experiencing an increase in difficulty over the last month. The changes in difficulty and hashrate impact the speed and efficiency of the network, affecting the time it takes to mine a block and the rewards received. With the upcoming difficulty retarget, it remains to be seen how the network will adjust to the changes and how the mining pools will perform relative to their competition.
In summary, Bitcoin’s difficulty decreased by 0.49% on February 12, 2023, providing momentary relief for miners. Foundry USA is the top mining pool, controlling 33.26% of the global hashrate, while Antpool and Binance Pool follow with 15.97% and 15.54%, respectively. The next difficulty retarget is expected to happen around February 26, 2023, and the changes in difficulty and hashrate will continue to impact the network’s speed and efficiency.
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