Bitcoin’s Hashrate Surges Reaching a Lifetime High, Difficulty Expected to Jump Next Week – Mining Bitcoin News

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Bitcoin's Hashrate Surges Reaching a Lifetime High, Difficulty Expected to Jump Next Week
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Bitcoin’s hash rate hit an all-time high this weekend, hitting 271.19 exahash per second (EH/s) on Saturday, April 23 at a block height of 733,197. Currently, computing power is sliding at 233.81 EH/s, and the network difficulty is expected to change in three days on April 27.

Bitcoin Hashrate Hits All-Time High, Hashrate Increases 55% Since January

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

Bitcoin’s hashrate has never been higher than this point in history, with a 55.48% increase since block height 717,696 or January 8, 2022, at an all-time high. The processing power that powers the Bitcoin network hit an ATH of 246 EH/s on Feb. 12, up from an all-time high set on Saturday.

Bitcoin's Hash Rate Surges to All-Time High, Difficulty Jump Expected Next Week
Bitcoin hash rate as provided by coinwarz.com on April 24, 2022. The network reached an all-time high of 271.19 exahash/s (EH/s) on Saturday, April 23 with a block height of 733,197.

After the downward difficulty adjustment algorithm (DAA) change at block height 731,808, the difficulty dropped by 1.26%, and the network is expected to see a DAA increase in about three days. With such a high hashrate, DAA is expected to increase by 3.21%.

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If the projected DAA growth of 3.21% materializes, Bitcoin’s network difficulty will jump from the current 28.23 trillion to a lifetime high of 29.13 trillion. Currently, on Sunday afternoon (ET), the block subsidy reward worth 6.25 BTC is currently worth $247,063 using today’s Bitcoin exchange rate.

As Bitcoin’s hashrate broke ATH on Saturday, the top-ranked mining pool for the past three days was Foundry USA, which accounted for 22.55% of the global hashrate. Statistics show that Foundry’s 47.89 EH/s has allowed mining pools to find 106 of the last 470 blocks found by 13 mining pools. The second largest Bitcoin miner after Foundry USA is Binance Pool with 12.98% or 27.56 EH/s of hashrate.

While statistics show that Bitcoin’s price wasn’t the best in the first quarter of 2022, the hash rate has increased by more than 55% since then, which is a remarkable feat. Indicators suggest that it is profitable to mine the current value of BTC with most ASIC equipment of 25 TH/s or higher. At press time, Bitmain’s Antminer S19 Pro (110 TH/s) mining rig with an electricity cost of $0.12 per kWh is expected to generate a profit of $10.23 per day.

tags in this story

12 known mining pools, 271 EH/s, 271 exahash, Binance Pool, Bitcoin Hash, Bitcoin Miner, BTC Hash, BTC Hash, BTC Miner, Difficulty, Exahash, F2Pool, Foundry USA, Global Computing power, computing power, computing power, high computing power, miners, mining difficulty, mining pool, Over 200 EH/s, mining pool distribution, mining pool, price

What do you think of Bitcoin’s hash rate hitting an all-time high of 271 EH/s on Saturday? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at Bitcoin.com News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

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