While bitcoin has been hovering above the $60K handle for a great majority of the last 28 days, Bitcoin hashrate has jumped significantly throughout that time as well. Since August 13, Bitcoin’s hashrate has climbed 42% from 110 exahash per second (EH/s) to today’s 157 EH/s. Moreover, after nine consecutive issue changes, going ahead, it will be 50% more difficult to mine bitcoin than it was three months ago for the next two weeks.
Bitcoin’s Hashrate Follows the Price Rise
At the time of writing, Bitcoin’s hashrate is coasting along at 157 EH/s and approximately 14 known mining pools are dedicating hashpower to the network. 16.39 exahash or 10.24% of the network is being mined by stealth miners and the hashrate is classed as “unknown.”
The unknown hashrate represents the fifth-largest mining ‘pool’ dedicating hash toward the network. In the meantime, over the past three months, Bitcoin’s hashrate has adopted the price shifting northbound. The general hashrate is 42% higher than it was three months ago and that was roughly a month after China’s crackdown on bitcoin miners.
Bitcoin Is 50% More Difficult to Mine Than It Was 3 Months Ago
In the last three months, hashrate averages show that at some factors over the past three months, Bitcoin’s hashrate ran as excessive as 180 EH/s. Bitcoin’s hashrate has climbed above the 180 EH/s areas 3 times since October 25.
Bitcoin’s price has hovered above the $60K value vary since October 15 and dipped below $60K on one event throughout that point. As a result of the hashrate has been regularly rising, Bitcoin’s network difficulty as of this weekend may have adjusted upward 9 times in a row. The 9 changes equate to being over 50% harder to mine bitcoin (BTC) since July 17, 2021.
4 Pools Command 58% of Network’s Processing Energy
In the present day, the highest 4 mining pools command 58.6% of the network’s hashrate over the past three days. F2pool is the biggest mining pool with 28.51% EH/s and Antpool commands 26%. Foundry USA captures 12.69% of the worldwide hashrate as the third-largest mining pool as we speak. Foundry’s pool commands roughly 20.32 EH/s at the time of writing.
Viabtc is the fifth largest mining pool with 11.8% of the worldwide hashrate translating to 18.89 EH/s. The fifth-largest hashrate today belongs to stealth miners known as “unknown” with 16.39 EH/s. Below this portion of the hashrate pie is one other ten mining pools dedicating hashrate to the BTC chain.
Market’s Most Profitable Miners Are Raking in $34 to $45 per Day
The most profitable miners available on the market are making decent profits between $34 to close to $45 per day with today’s exchange rates, the present mining issue, and $0.07 per kilowatt-hour (kWh) in electricity costs. The Microbt Whatsminer M30S++ (112 TH/s) will bring in 44.77 per day at present BTC exchange charges and the Bitmain Antminer S19 Pro (110 TH/s) pulls in $44.24 per day.
Canaan’s top model, the Avalonminer 1246 (90 TH/s) can get around $34.92 every 24 hours utilizing present exchange rates. If the new Bitmain Antminer S19 XP was within the wild today, it may pull in around $58.20 a day with its 140 TH/s hashpower. Nonetheless, the unit shouldn’t be anticipated to be bought till July 2022.
Source: Bitcoin News