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Bitcoin’s mining difficulty reached an all-time high (ATH) on February 24, 2023, at block height #778,176, reaching 43.05 trillion hashes and surpassing 40 trillion for the first time ever. The network’s difficulty increased by 9.95%, which is the second largest increase this year, as Bitcoin recorded a total increase of 24.89% in the last 60 days.
Mining bitcoin (BTC) has never been harder than it is today, as miners have experienced a 9.95% difficulty increase at block height #778,176. Now and for the next two weeks, or roughly 2016 blocks, the difficulty will be 43.05 trillion. The network’s average hash rate over the last 2016 blocks was approximately 305.8 exahash per second (EH/s).
The 9.95% increase on Friday was the second largest jump in difficulty this year, as the largest was recorded on January 15, 2023, at block height #772,128. At that point, the difficulty rose 10.26% higher than the previous difficulty. The next difficulty change is around March 9, 2023, and currently the block times have been much longer than the average of 10 minutes.
The average block time before the difficulty change on Friday was around 9 minutes and 11 seconds, and today block times are between 12 and 14 minutes long. The longer block time shows that the latest difficulty change has slowed down the miners. On Saturday, February 25, 2023, the network’s global hashrate runs with values between 294.91 EH/s and 238.44 EH/s.
On Saturday, the largest mining pool in terms of hashrate is Foundry USA with 103.18 EH/s or 34.88% of the network’s total hashpower. Foundry is followed by Antpool, which has 15.81% of the total or about 46.77 EH/s of hashpower. Foundry and Antpool are followed by F2pool, Binance Pool and Viabtc respectively. Over the past three days, 13 known pools and 15.13 EH/s of unknown hash power have collectively discovered 430 blocks in total.
What do you think about Bitcoin’s network difficulty rising to a new ATH over 40 trillion? Let us know what you think about this topic in the comments section below.
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