Bitcoin’s hash rate reached an all-time high (ATH) again this year as the network’s processing power hit 275.01 exahash per second (EH/s) on May 2, 2022. The most recent ATH came after a big jump in difficulty on April 27, with Bitcoin down 6.2% against the U.S. dollar over the past two weeks.
Bitcoin Hash Rate Mining 275 Exahash
Just recently, Bitcoin’s mining difficulty hit 29.79 trillion ATH, the most difficult to find BTC block rewards so far. On April 27, the difficulty of the network increased by 5.56% after sliding to $28.2 trillion two weeks ago.
Despite the rise in difficulty, Bitcoin miners continue to grow at a high rate. Furthermore, over the past two weeks, BTC has lost 6.2% against the US dollar. Falling prices have also reduced profits for bitcoin miners during a two-week slump.
Despite these two setbacks, Bitcoin miners have pushed the hash rate to an all-time high in terms of computational processing power. The hash rate reached its all-time high of 275.01 EH/s on May 2, 2022, with a block height of 734,577.
The network previously hit ATH 1,380 blocks on April 23, ahead of a high of 275 EH/s at block height 733,197. At the time, the recorded ATH was approximately 271.19 EH/s. The data shows that since the block height of 733,197, the overall computing power has increased by 1.40% within 7 days.
The next generation of miners to be deployed
The 7-day statistics show that Foundry USA is the largest mining pool after capturing 233 of the 1,071 BTC blocks discovered last week. Foundry USA owns 21.76% of the network’s hashrate, with an average hashrate of 49.29 EH/s over the past 7 days. The second largest mining pool last week was Antpool as it received 145 block subsidy rewards last week.
Antpool held 13.54% of the global hashrate at a rate of 30.68 EH/s in one week. Today, there are 12 known mining pools providing computing power to the BTC network, and 0.93% of the global computing power (or 2.12 EH/s) is operated by unknown Bitcoin miners.
Bitcoin’s hash rate hit an all-time high ahead of the latest next-gen machines from bitcoin mining rig manufacturers, and from here, it’s likely to be even higher. Next-generation miners from Bitmain and Microbt, which contain more computing power, will ship next month.
Additionally, Bitmain’s hydro-powered bitcoin mining rig, the Antminer S19 Pro+ Hyd., has a speed of 198 TH/s and was released this month. Depending on the delivery time, miners may deploy these high-performance next-generation miners and greatly increase the overall hash rate of the network.
What do you think of the hash rate reaching a new high on May 2? Do you expect the hash rate to increase after deploying the next generation of machines? Let us know what you think about this topic in the comments section below.
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