• Sun. Jul 21st, 2024

On the 8th of June, analysts expected BTC’s mining difficulty to drop. However, the difficulty soared by 1.29%. On the same day, the hashrate of Bitcoin reached its ATH (all-time high) of 292.02 EH/s (exahash per second).

BTC’s Blockchain Security Close to 300 EH/s

In the latest news, the computer processing power of BTC’s protocol reached an ATH on Wednesday. Presently, the hashrate is at 292 EH/s. The security of Bitcoin’s network has not been this powerful.

Besides, the last time it increased was on the 2nd of May at a block height of 734,577. At this height, it reached an hashrate of 275.01 EH/s. Presently, it is about 2.73% from hitting 300 EH/s.

On the 7th of June, analysts expected the mining difficulty to reduce by 0.51%. However, the hashrate speed has increased over the last week. Hence, the difficulty adjustment algorithm (DAA) increased instead of decreasing.

Although BTC’s mining difficulty has increased by 1.29%, it is far from its ATH. On the 10th of May, the mining difficulty of Bitcoin reached an ATH of 31.2 trillion. 

Presently, the mining difficulty is 30.2 trillion and may stay that way till the 21st of June. This is when the next retarget date will be. It is about 1,600 blocks or ten days till the next DAA.

Foundry USA At The Top Of The Mining Pool

On Wednesday, the security of Bitcoin’s blockchain received a hashrate speed of 292 EH/s. From a 3-days statistics, US mining firm, Foundry, is leading the mining pool. The firm has a mining hashrate of 52.42 EH/s (fifty two quintillion four hundred and twenty quadrillions Hashrate per second).

According to Foundry, there are over 109 BTC block rewards. This is from the 475 BTC blocks mined in the past three days. The hashrate of Antpool is hovering around 35.11 EH/s. 

Antpool recovered 73 blocks from the 475 BTC blocks it found. Also, F2pool used 32 EH/s and found 67 BTC blocks over 72 hours.

Meanwhile, two factors will determine the next mining difficulty of Bitcoin. First is the present hashrate speed. Next is the rate it will take for miners to mine the remaining 1,600 blocks.

With today’s metrics, the difficulty might increase by over 1.52%. However, this estimate is likely to change if other factors change.

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