Bitcoin Network Mining Difficulty Expected to Increase Biggest in Over 2 Months – Mining Bitcoin News

0


Bitcoin’s hashrate has been steadily rising after falling to 69 exahash per second (EH / s) on June 28, when it peaked at 117 EH / s on Tuesday morning (EDT). The increase in hash power will likely lead to the highest difficulty expansion in 89 days, as estimates currently show that a 7.39% increase is due in two days.

Bitcoin Block Rewards Expected To Be Over 7% Harder To Find In 2 Days

In just over two days, Bitcoin mining difficulty is expected to exceed 7.3%, as the overall hashrate of the crypto asset has improved significantly. Since June 28, Bitcoin’s hashrate has jumped 69.56% and has risen as market prices rise.

Bitcoin Network Mining Difficulty Expected to Increase Biggest in Over 2 Months
Bitcoin hashrate on a one-year zoom on August 10, 2021.

On July 15, Bitcoin’s hashrate peaked at 130 EH / s standing just below that zone for the past 25 days, and every now and then it has tried to break above the metric. Bitcoin mining difficulty makes it harder for miners to find blocks and over the last epoch it has increased by over 6%. However, the biggest increase since then was on May 13, 2021, when the difficulty increased by 21.53% that day.

Bitcoin Network Mining Difficulty Expected to Increase Biggest in Over 2 Months
At the time of writing and current hash speed, mining difficulty is expected to increase by over 7%.

The next change in difficulty shows an estimate of around 7.39% and could increase even more if the hashrate continues to climb. This means that in the last month the difficulty will be almost 13.39% higher in two days. At the time of writing, BTCThe mining difficulty for s is around 14.50 trillion, and it should be around 15.57 trillion after the next change in difficulty.

Besides the May 13 change, the difficulty adjustment will be the highest change since January 9, 2021. Although the difficulty will make it harder to find BTC blocks, it can increase and decrease depending on the hash rate dedicated to the blockchain.

Antpool still in first place, Bitcoin inflation rate per year is 1.76%, Bitcoin halving is in 1,006 days

Monday Antpool is the biggest BTC minor, capturing 17.71% of the global hashrate. Antpool has more than 20 PE / s dedicated to Bitcoin (BTC) blockchain and is followed by Poolin’s hash power of 15.12 EH / s. With more than 15 exahashs, Poolin now holds more than 13% of the hash power of the network, while Viabtc occupies the third position.

Bitcoin Network Mining Difficulty Expected to Increase Biggest in Over 2 Months
3 days BTC distribution of the hashrate of the mining pool on August 10, 2021.

Viabtc’s 11.46% network hash rate comes from the 12.9 PE / s of hash power it applies to the chain. The fourth position is held by F2pool (10.83%) and the fifth miner is Foundry USA (9.79%). Unknown hash or stealth miners still have a large amount of global hash power with 9.17% of hash power today or 10.9 EH / s.

As of August 10, 2021, there are around 1,006 days until the next block reward is halved and it is likely that miners will try to mine with as much hash power as possible until then. When this happens, the 6.25 BTC the block reward will be reduced to 3.125 coins per block after halving.

Give or take the speed of hashrate, there are about 144 blocks found each day and the BTC the inflation rate per year is only 1.76%. At the time of writing the next difficulty retarget will be 386 BTC a few blocks away and at current network speeds and market prices, it looks like the miners are about to experience a series of back-to-back difficulty increases.

What do you think of the upcoming increase in difficulty and the fact that Bitcoin’s hashrate recovered from losses at the end of June? Let us know what you think of this topic in the comments section below.

Tags in this story

Antpool, Reward Blocks, BTC Blocks, BTC Mining, Crypto, Crypto Mining, Difficulty, Increased Difficulty, Hashrate, Increase, Inflation Per Year, Mining, Bitcoin Mining, Mining Difficulty, Mining Pools, Pools

Image credits: Shutterstock, Pixabay, Wiki Commons, Btc.com, coinwarz.com,

Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.


Share.

Comments are closed.