Bitcoin’s computing power drops, mining difficulty is expected to drop for the first time since July – Mining Bitcoin News
Bitcoin’s hash rate has been fluctuating recently, following the same pattern as the price of encrypted assets. Three days ago, Bitcoin’s hash rate was close to the 180 exahash (EH/s) area, but it plummeted to 128 EH/s two days later. The most recent changes occur before the upcoming network difficulty adjustment, which will change on Sunday. After nine consecutive increases, it was the first time since mid-July, and the difficulty declined instead of increasing.
Bitcoin hash rate declines after price drop-mining difficulty is expected to decrease
The legal value of Bitcoin (Bitcoin) As a result, the processing power of the network slowed down at the end of November. Seven days ago, Bitcoin.com News reported how Bitcoin’s hash rate has steadily increased in the past three months. Nowadays, BitcoinAfter the computing power reached a high of 178 EH/s on November 24, it has been sliding at a speed of 168 EH/s. After reaching this high on Wednesday, the hash rate fell to a low of 128 EH/s on Friday, a 28% hourly drop in 48 years.
The slowdown has caused the network difficulty to remain lower than usual, and this Sunday is expected to drop for the first time since July 17, 2021. After the difficulty changed in mid-July, BitcoinThe difficulty increased nine times in a row.
Now mining difficulty has increased by 52.48% Bitcoin Compared with July 17, 133 days ago. The next change is expected to occur in the early hours of Sunday (EST) and is expected to fall -0.38%. This is not much, but it will prevent mining difficulty from reaching the all-time high (ATH).
There have also been many changes in the distribution of hash rates among mining pools. Bitmain’s Ant Pool is the largest Bitcoin miner today, with 16.79% of the network or 26.15 EH/s computing power. Foundry USA is the second largest Bitcoin mining pool, with 16.55 percent of the network’s computing power, or 25.77 EH/s. Although F2pool ranks third with 15.33% computing power or 23.87 EH/s, unknown computing power or invisible miners control 13.14% of the network computing power, or slightly higher than 20 EH/s.
The mining difficulty of Bitcoin hit ATH on May 13, 2021, reaching 25.05 trillion. Today, the network difficulty is 22.67 trillion, and by Sunday, November 28, 2021, the network difficulty should drop to 22.59 trillion.Compared with most difficulty changes, the 0.38% change is insignificant, but it will be helpful for miners to keep the difficulty low for the next two weeks, and the price Bitcoin It is much lower than two weeks ago. Two weeks ago, four days later, the difficulty of Bitcoin increased by 4.69% Bitcoin Reached an ATH price of US$69,000 per unit.
What do you think of the upcoming difficulty reduction and recent computing power operations? Please tell us your thoughts on this topic in the comments section below.
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