Bitcoin hashrate rises again, mining difficulty is expected to see the biggest decline next week in 2021
Bitcoin hashrate has rebounded over the 100 exahash per second (EH / s) range after falling to 91 three days ago. Over the next five days, the network’s mining difficulty is likely to decrease by more than 22%.
Bitcoin hashrate rises above 100 EH / s again, difficulty could drop by over 22% next week
Statistics show that Bitcoin miners process blocks much faster as the hashrate has improved over the past 48 hours. Currently, the network hashrate has risen back above the 100 EH / s region.
The hashrate fell to 91 EH / s on June 23, 2021 after crackdowns in 5 Chinese provinces, most recently in Sichuan. Since then the hashrate has increased by 9-13%.
The next decline in mining difficulty is expected occur in the next five days and with the current computing power it could decrease by about 22%. At the time of writing, the network’s mining difficulty is 19.932 billion and it could drop to 15.545 billion next week.
Bitcoin mining difficulty is basically a measure of how difficult it is to find a hash that is below a certain target. When the Bitcoin hashrate is high, the difficulty increases, and when the hashrate decreases, as in the Chinese practice, the mining difficulty decreases. So whether Bitcoin mining will be easy or difficult depends on its volatility. The difficulty of the Bitcoin network changes every 2,016 blocks, or roughly every two weeks.
The low difficulty will make it easier for miners to find blocks, and it could be more profitable this month, although the Bitcoin price is actually down sharply compared to two weeks ago. The recent change in the difficulty level has resulted in the Taproot lock taking place and the log upgrade being activated in November 2021.
over 16 pools Mining identity verification with a dedicated SHA256 hashrate targeted on the Bitcoin blockchain. The proportion of the hashrate that is considered “unknown” or mysterious is currently 7.57 EH / s or 7.49% of the global hashrate.
The top 5 mining pools, including Antpool, F2pool, Viabtc, Binance Pool, and Poolin, currently account for 62.83% of Bitcoin hashrate, while the rest is handled by 11 identity validation pools and 7.49% stealth hashrate.
The next difficulty change appears to be the biggest drop in mining difficulty in 2021 yet. The network saw the strongest gains in 2021 with a gain of almost 21.53% at a block height of 683,424 on May 13th.
According to News.Bitcoin