The network’s difficulty dropped for the first time in 68 days after four consecutive Bitcoin mining spikes, sliding 2.14% to a block height of 756,000 on Tuesday. The change means that it is currently 2.14% easier to earn a bitcoin block reward following the mining crisis (ATH) that occurred on September 13.
Bitcoin Problem Slides 2.14%
Bitcoin miners got a break this week after the network’s mining difficulty slipped by 2.14% on Tuesday night. The problem is now 31.36 trillion after the 32.04 trillion ATH recorded on Tuesday, September 13. Since the problem is fixed every 2,016 blocks, the network’s difficulty will remain at 31.36 trillion for the next two weeks.
While the network’s hashrate is cruising at 234 EH/s, statistics show that the average hashrate over the past 2,016 blocks was 225.2 EH/s. Based on current metrics, with current BTC prices and electricity costs of $0.07 per kilowatt-hour (kWh), approximately 41 SHA256 application-specific integrated circuit (ASIC) bitcoin miners will earn an estimated profit of $0.12 to $7.95 per day. At $0.12 per kWh, nine ASIC bitcoin miners earn an estimated profit of between $0.33 and $4.24 per day.
The five most profitable ASIC mining machines today are Bitmain Antminer S19 XP 140 terabytes per second (TH/s), Antminer S19 Pro+ Hyd (198 TH/s), Microbt Whatsminer M50S (126 TH/s), Microbt Whatsminer M50 (114 TH/s). ), and Bitmain Antminer S19 Pro (110 TH/s).
In the last three days, 423 blocks have been found by miners, while Foundry USA has found 108 blocks. Foundry has mined 25.53% of the global hashrate or 56.53 EH/s in the last three days.
Foundry is followed by Antpool, F2pool, Binance Pool and Viabtc in that order. Currently, 11 known mining pools are contributing hashrate to the Bitcoin blockchain, representing 98.11% of the global hashrate. The unknown hashrate is used to obtain 1.89% of today’s global hashrate, or 4.19 EH/s from the 423 eight blocks obtained in three days.
Meanwhile, the next difficulty change in the current block period is estimated to increase by about 1.32%, but this could make a big difference to me in the next 1,957 blocks.
What do you think about the new mining difficulty change? Let us know what you think about this in the comments section below.
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