Bitcoin’s mining difficulty was supposed to drop on June 8th, but it rose by 1.29% on Wednesday. At block height 739.928, Bitcoin’s hashrate reached an all-time record (ATH), reaching 292.02 exahash/second.
Bitcoin Blockchain is Secured by Nearly Three Hundred Quintillion Hash Per Second
The Bitcoin network is stronger than ever as its computational processing power hit a new lifetime high on Wednesday. The network reached 292.02 EH/s, which is close to the 300 EH/s mark for the first-time.
At Bitcoin block height 734,577 on May 2, 2022 at 275.01 EH/s, the last hashrate ATH occurred. The leap to 292.02 EH/s 37-days later was approximately 6.18% more than the ATH of May 2. The ATH Wednesday was just 2.73% away of reaching 300 EH/s, or 0.3 zettahash/second (ZH/s).
The hashrate has been so high that the difficulty adjustment algorithm, (DAA), that was supposed to decrease, has increased by 1.29%. On June 7, difficulty was expected to drop by 0.51%.
Despite the 1.29% increase in difficulty, it is still less than the ATH 31.25 trillion recorded May 10, 2022. The network’s difficulty currently stands at 30.28 trillion. It is expected that it will remain at this level until the retarget date of June 21. This is approximately ten days away and around 1,600 blocks from the next DAA update.
At 292 exahash/second, two hundred ninetytwo quintillion hashes/second (H/s), were dedicated to Bitcoin’s security. Foundry USA is the most popular mining pool with fifty-two quintillion forty-four quadrillion hashes per second (or 52.42 EH/s).
Foundry discovered 109 Bitcoin block reward rewards from the 475 blocks that were mined in the last 72 hours. Antpool’s hashrate hovered at 35.11 EH/s, or thirty-five quintillion one hundred and ten quadrillion He/s. Antpool discovered 73 blocks of 475 blocks, while F2pool captured 32.EH/s. F2pool also discovered 67 blocks in the last three days.
The next difficulty change will be determined by the current hashrate speed and the time it takes to mine the next 1,600 block. Based on current metrics, the difficulty will increase by 1.52% over the current position. However, this estimate is likely to change.
