Bitcoin miners exhaled a sigh of relief ten days ago when the mining difficulty lowered by 1.49 percent. The network’s hash rate, on the other hand, has climbed by more than 15% since then, and is already above the 200 exahash per second (EH/s) mark. As a result, the difficulty is expected to rise in fewer than four days.
On February 15, the hash rate reached an all-time high of 249 ETH/s. However, it has been declining since then, oscillating at 169 EH / s on February 27. Bitcoin miners can now breathe a sigh of relief due to the decrease in computing power. It reduced the difficulty of extraction for the first time in months.
The difficulty decreased by 1.49 percent on March 3. After six consecutive increases, this was the first decline. It is presently valued at 27.55 trillion dollars.
Bitcoin’s hash rate has increased by more than 15% since the last difficulty correction and by 29% from the two-week low of 169 EH/s. The network’s computational power is currently around 218.11 EH / s and has stayed constant over 200 EH / s for the last ten days.
However, the mining difficulties will be corrected again in less than four days. It is expected that it will increase by 1.03 percent this time.
According to information on the hash rate distribution over the last 72 hours, foundry USA remains the leader. The computational power of the American mine is 42.42 EH/s. This figure represents up to 21.19 percent of the worldwide hash rate.
F2pool has been the second-largest miner in terms of hash rate during the last three days. This mining pool has a hash rate of 30.93 EH/s, which is 15.45 percent of the overall global hash rate. At the time of writing, the BTC chain is served by 11 mining pools that provide SHA256 processing power.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.