Bitcoin hashrate increases 32% in 3 months, mining difficulty is expected to increase for the 8th time in a row

The Bitcoin hashrate has risen sharply in the last three months from 103 exahashes per second (EH / s) on July 25 to 137 EH / s at the current time and has meanwhile increased to 189 EH / s. The spike in Bitcoin price has driven the hashrate up, and last week the overall difficulty in mining is expected to increase for the eighth consecutive year.

Bitcoin hashrate is increasing stability

With Bitcoin price still up 30% from last month, the network’s mining power has skyrocketed, even after currently falling below the $ 61,000 region. Three-month statistics show that Bitcoin’s hash power has risen nine times above the 160 EH / s region and once above 180 EH / s since July 25.

Source: Coinwarz.com.

At that time, three months ago, the Bitcoin hashrate was slowly recovering from the raid on China that soon afterwards led to the mass exodus of miners. Bitcoin’s hash rate and price on the spot market were much lower three months ago when the network’s processing power was just over 100 EH / s.

The network’s processing capacity and security have increased 32% since then as the price has gone up, making the miners much more profitable than they were at the end of July. Today with a hash rate of 137 EH / s and a BTC rate are profitable.

Top ASIC miner earns $ 37 per day

Microbt Whatsminer M30S ++ with a hashrate of 112 terahash per second (TH / s) can earn $ 37.47 per day at the current BTC price at a cost of $ 0.12 per kilowatt hour of electricity per day. Bitmain’s Antminer S19 Pro at 110 TH / s gets $ 37.26 per day on the same electricity and BTC tariffs.

Distribution rate of the Bitcoin mining pool on October 24, 2021 | Source: BTC.com

Today, the largest bitcoin mining pool is F2pool, which accounts for 17.56% of the hashrate (26.31 EH / s). This is followed by Antpool with 17.11% (25.65 EH / s), then Viabtc with 12% (17.98 EH / s) and the unknown hashrate, also called stealth miner, with 12% (17.98 EH / s ).

Bitcoin mining difficulty and difficulty change estimate | Source: BTC.com

Over the next seven days, the Bitcoin network mining difficulty adjustment is expected to increase by 2.20%, from 20.08 trillion to 20.52 trillion. This will be the eighth difficulty increase in a row after the last seven changes to the difficulty adjustment algorithm increased by 39.94%.

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