Fun

Bitcoin Mining Difficulty Reaches All-Time High as Miners Face Second-Largest Increase This Year

News Feed - 2023-02-26 12:02:44

Bitcoin Mining Difficulty Reaches All-Time High as Miners Face Second-Largest Increase This Year


Bitcoin’s mining difficulty reached an all-time high (ATH) on Feb. 24, 2023, at block height #778,176, reaching 43.05 trillion hashes and surpassing the 40 trillion mark for the first time ever. The network’s difficulty increased by 9.95%, which is the second-largest rise this year, as Bitcoin recorded a combined 24.89% increase during the last 60 days. Network Participants Face Longer Block Times Following Recent Difficulty Change


It has never been harder to mine bitcoin (BTC) 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 approximately 2,016 blocks, the difficulty will be 43.05 trillion. The network’s average hashrate over the last 2,016 blocks was roughly 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 Jan. 15, 2023, at block height #772,128. At that time, the difficulty rose 10.26% higher than the previous difficulty metric. The next difficulty change is due on or around March 9, 2023, and presently, block times have been much longer than the 10-minute average.


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 in length. The lengthier block time shows that the recent difficulty change has slowed miners down. On Saturday, Feb. 25, 2023, the network’s global hashrate is coasting along at 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 commands 15.81% of the total or roughly 46.77 EH/s of hashpower. Foundry and Antpool are followed by F2pool, Binance Pool, and Viabtc, respectively. Over the last three days, 13 known pools and 15.13 EH/s of unknown hashpower collectively discovered 430 blocks in total. Tags in this story Algorithm, Antpool, Binance Pool, Bitcoin, Bitcoin mining, Block Height, block times, Blockchain, BTC, BTC Mining, Cryptocurrency, Decentralized, difficulty, difficulty increase, Digital Assets, Energy Consumption, F2Pool, Foundry USA, future, Global Hashrate, Hashpower, Hashrate, Innovation, investment, market volatility, Miners, mining, network, Profitability, Proof of Work, Rewards, Scalability, technology, transactions, ViaBTC


What do you think about Bitcoin’s network difficulty rising to a new ATH above the 40 trillion mark? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Paraguay to Become Top Bitcoin Mining Hub in Latam According to Insight Group MINING | 3 days ago Bitcoin Network Difficulty Expected to See Largest Increase of the Year Amid High Hashrate, Shorter Block Times MINING | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGermany’s DZ Bank to Offer Crypto Custody With Swiss Firm Metaco Next articleCrypto Market Slides as Total Value Locked in Defi Falls Below $50 Billion Mark Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

Man Sentenced to 8 Years in Prison for Stealing Nearly $7 Million of Crypto in Israel
Man Sentenced to 8 Years in Prison for Stealing Nearly $7 Million of Crypto in Israel Afek Zard, a resident of Israel, has been sentenced to eight years in priso
Meta Launches Meta Pay, a Metaverse Dedicated Digital Wallet
Meta Launches Meta Pay, a Metaverse Dedicated Digital Wallet Meta, the metaverse-based platform, has announced the launch of a new wallet directed to support value interaction in t
Crypto Marketplace Purse.io to Dissolve Operations After 6 Years
Crypto Marketplace Purse.io to Dissolve Operations After 6 YearsOn April 16, the crypto firm Purse.io announced the company is planning to dissolve after six years of operation. The
David Attlee14 hours agoThailand to start taxing overseas income next year, including from cryptoAny person who resides in Thailand for up to 180 days, would be subject to personal income tax on foreign assets, including
Leading Auction House Christie’s Listing Bitcoin Art for the First Time
Leading Auction House Christie"s Listing Bitcoin Art for the First TimeThe world’s largest auction house, Christie’s, will be presenting Bitcoin artwork for the first ti
Arbitrum to distribute $215M in ARB tokens for gaming innovation
Amaka Nwaokocha23 hours agoArbitrum to distribute $215M in ARB tokens for gaming innovationInitially introduced in March, the proposal was approved on June 7, with over 75% of votes in favor.5514 Total views9 Total share
Bitcoin Shows Signs of Recovery as Leverage Decreases and Outflows Rise
Este artículo también está disponible en español. Bitcoin is now experiencing a break from last week’s steady decline, which saw the asset drop as low as $94,000. As of
Introducing Wallex Custody, The Custodian Of The New Digital Era
Introducing Wallex Custody, The Custodian Of The New Digital EraSweden, June 15 – In a decisive move to adapt to the new normal concept of everyday living caused by the COVID-
Nubank brings Bitcoin Lightning to its 100M Latin American customers
Brayden Lindrea8 hours agoNubank brings Bitcoin Lightning to its 100M Latin American customersLightspark will also integrate the Universal Money Address standard for Nubank, which gives an email-like address for users to
Blockfi Launches Crypto Trading Platform
Blockfi Launches Crypto Trading Platform Crypto financial services company Blockfi has launched a trading platform supporting three cryptocurrencies. The new offering adds to the
Amaka Nwaokocha57 minutes agoRipple CEO criticizes former SEC Chair Jay Clayton’s commentsClayton emphasized that regulatory agencies should introduce regulations and legal cases they believe will successfully withstan
Amaka Nwaokocha14 hours agoUN launches international effort to tackle AI governance challengesThe list of participants includes tech industry leaders, government representatives from Spain to Saudi Arabia, and scholars f