Bitcoin hashrate goes down, mining difficulty is expected to go down for the first time since July

Bitcoin price slowed the network’s processing capacity in late November. BTC reported that the BTC hashrate has been increasing continuously for three months. Today the hashrate hovers at 168 EH / s after hitting a local high of 178 EH / s and falling to a low of 128 EH / s on Wednesday November 24th, a loss of 28% in 48 hours.

 BTC hashrate

The network slowdown means that network difficulties remain lower than usual, decreasing for the first time since July 17, 2021 today (Nov 28th) and seeing 9 increases in a row.

Difficulties in mining bitcoin

Currently, the difficulty of mining Bitcoin has increased by 52.48% compared to 133 days ago (July 17th). The next change expected today is expected to decrease by -0.38%. While not by much, it will keep it from spilling to an all-time high (ATH).

There are also many differences in the hashrate distribution between the mining pools. Bitmain’s Antpool is the largest Bitcoin miner today at 26.15 EH / s, which is 16.79% of the network’s hashrate. Foundry USA is the second largest mining pool at 25.77 EH / s or 16.55%. While F2pool takes third place with 23.87 EH / s, which corresponds to 15.33%, hidden mining pools or unknown hashrates have more than 20 EH / s, which makes 13.14%.

Bitcoin Mining Difficulty recorded an ATH on May 13, 2021 when it hit 25.05 trillion. Today the network difficulty is 22.67 trillion and it is likely to drop to 22.59 trillion today. This small change should keep the difficulty lower for another two weeks, which will benefit the miners, while the BTC price is much lower than it was two weeks ago.

Bitcoin difficulty rose 4.69% two weeks ago, four days after BTC hit its ATH price of $ 69,000.

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