Although Bitcoin has been hovering above $60,000 for most of the past 28 days, the hash rate of the network has also risen sharply during this period. Since August 13, Bitcoin’s computing power has risen from 110 exahash (EH/s) by 42% to today’s 157 EH/s. In addition, after nine consecutive difficulty changes, the difficulty of Bitcoin mining in the next two weeks will be 50% higher than three months ago.
Bitcoin’s hash rate increases with price
At the time of writing, Bitcoin’s hash rate is declining 157 EH/s About 14 known mining pools are providing computing power to the network. 16.39 exahash or 10.24% of the network is being mined by invisible miners, and the hash rate is classified as “unknown”.
The unknown hash rate represents the fifth largest mining “pool”, dedicated to the hashing of the network. At the same time, in the past three months, Bitcoin’s hash rate has moved northward with the price. The overall hash rate is 42% higher than three months ago, and that was about a month after China cracked down on Bitcoin miners.
The difficulty of Bitcoin mining is 50% higher than 3 months ago
The average computing power of the past three months shows that at some point in the past three months, the computing power of Bitcoin is as high as 180 EH/s. Since October 25th, Bitcoin’s hash rate has climbed above the 180 EH/s area three times.
Bitcoin price Since October 15th, it has been hovering above the $60,000 price range, and once fell below $60,000 during that period. Because the computing power has been gradually increasing, Bitcoin’s network difficulty As of this weekend, there will be nine consecutive upward adjustments. These nine adjustments are equivalent to an increase in the difficulty of Bitcoin mining by more than 50% (Bitcoin) From July 17, 2021.
4 pools control 58% of network processing power
Today, the top four mining pools Order 58.6% The hash rate of the network in the past three days. F2pool is the largest mining pool, EH/s is 28.51%, Antpool command is 26%. Foundry USA occupies 12.69% of the world’s computing power, making it the third largest mining pool today. At the time of writing, Foundry’s mining pool command is approximately 20.32 EH/s.
Viabtc is the fifth largest mining pool, accounting for 11.8% of the global computing power, equivalent to 18.89 EH/s. Today’s fifth largest computing power belongs to the invisible miners known as “unknown”, at 16.39 EH/s.Below this part of the hashrate cake are ten other mining pools dedicated to Bitcoin chain.
The most profitable miner in the market earns between $34 and $45 a day
most Profitable miner Based on today’s exchange rate, current mining difficulty, and an electricity bill of US$0.07 per kilowatt hour (kWh), the profit on the market ranges from US$34 to nearly US$45 per day. Microbt Whatsminer M30S++ (112 TH/s) currently brings 44.77 per day Bitcoin Exchange rate and Bitmain Antminer S19 Pro (110 TH/s) earn $44.24 per day.
Canaan’s top model Avalonminer 1246 (90 TH/s) uses the current exchange rate to get about $34.92 per 24 hours. If the new Bitmain Antminer S19 XP becomes popular today, its 140 TH/s computing power can earn about US$58.20 per day. However, the unit is not expected to be sold until July 2022.
What do you think of the recent mining operations and Bitcoin’s hash rate climbing 42% in three months? Please tell us your thoughts on this topic in the comments section below.
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