After reaching an all-time high on June 8, Bitcoin’s hash rate fell to a low of 182 exahash per second (EH/s) during the most recent Bitcoin price drop on June 12-13. While Bitcoin’s USD value remains below the $23,000 region, Bitcoin’s hash rate has managed to climb back above the 200 EH/s region.
Hash rate drops to 182 EH/s and rebounds above 200 EH/s, over 741 million Bitcoin transactions confirmed
Bitcoin’s hash rate hit an all-time high of 292.02 EH/s at block height 739,928 about a week ago, and since then, it has dropped to the region of just over 200 EH/s. Currently, the hash rate is sliding at 232.63 EH/s on Tuesday, June 14, 2022.
During the cryptocurrency market carnage from June 12-13, the computing power of the network slipped from 231 EH/s to 182 EH/s. During this period, the network’s hash rate lost 21% but quickly rebounded.
At current rates, the network’s mining difficulty is expected to increase by 0.67% to 30.49 trillion. We’re still a full week away from the difficulty adjustment algorithm (DAA) change, which means that current estimates may change. The DAA change is expected to occur on or around June 22, 2022, or the 1,050 block reward continues until the shift.
Furthermore, there are now less than 100,000 block rewards left before the next halving, or roughly 99,214 blocks at the time of writing. After these blocks are mined, the block subsidy will be halved from 6.25 bitcoins per block to 3.125 bitcoins per block.
Currently, Foundry USA is the largest Bitcoin mining pool today, accounting for 22.52% of the global hash rate after discovering 93 out of 413 blocks discovered in the past three days. Poolin is the second largest mining pool with 13.80% of the global computing power.
There are currently 12 known mining pools mining BTC, and 0.73% of the global hashrate or 1.62 EH/s is run by stealth miners. Unknown miners found three blocks out of 413 in the past three days.
In the past 30 days, miners have confirmed 7,692,044 BTC transactions, while BTC has confirmed 741,438,457 transactions in its lifetime. There are currently 15,679 reachable nodes and 8,290 Tor nodes.
At the time of writing, miners and non-mining nodes securing the BTC blockchain must store 467.6 GB of data. At the time of writing, there are 19,067,210.93 BTC in circulation, with 1,932,574.98 still to be discovered by miners.
What do you think of the current state of the Bitcoin network’s hash rate and mining pools? Let us know what you think about this topic in the comments section below.
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