Fun

While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine Bitcoin

News Feed - 2021-01-26 02:01:29

While BTC"s Hashrate Remains High, It"s More Difficult Than Ever Before to Mine Bitcoin


At the end of January 2021, Bitcoin’s network mining difficulty, a measure of how complicated it is to mine a block reward, is higher than it’s ever been during the crypto protocol’s lifetime. Currently, Bitcoin’s mining difficulty is a whopping 20.8 trillion but despite the handicap, bitcoin miners have continued to keep the network’s hashrate running hot. Bitcoin Difficulty Touches 20.82 Trillion


Bitcoin (BTC) prices have been higher than ever before and despite the temporary dip on January 21 below the $30k handle, the crypto asset has managed to remain above that range. This has made it so a great number of ASIC mining machines are profiting at the current price per BTC including older generation mining rigs.


Nevertheless, the current Bitcoin (BTC) mining difficulty is the highest it’s ever been in the last 12 years of operation. The difficulty is essentially how hard it is for a miner to mine a BTC block or basically find a hash below a given target.



The higher the difficulty, the more complicated it is for all the mining participants trying to find bitcoin blocks on any given day. At the time of publication, public data shows the BTC chain’s difficulty is approximately 20,823,531,150,111 or 20.82T. Small Difficulty Jump Expected in Less Than Two Weeks, Bitcoin Hashrate Runs Hot Above 150 Exahash


There’re around 22 mining pools dedicating SHA256 hashrate at the BTC chain and typically there were usually only around 18 most of the months last year. Presently, these pools have kept the BTC hashrate above the 150 exahash per second (eH/s) region.



During the last two months, BTC’s hashrate has held solid between 140 to 165 EH/s. At current speeds it seems the difficulty will only jump a hair higher at +0.11% to 20.85T in 12 days.


Right now the top five pools mining BTC today, include F2pool (23 EH/s), Poolin (19.2 EH/s), Binance Pool (17.1 EH/s), Btc.com (16.5 EH/s), and Antpool (12.4 EH/s). These top five mining pools command 61.45% of the entire SHA256 hashrate today, while 17 mining pools capture 38.55% of the remaining hashrate.


What do you think about the current mining difficulty touching a lifetime high? Let us know what you think about this subject in the comments section below. Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset MINING | 1 hour ago Global Chip Shortages Disrupt Bitcoin Mining Rig Production: China"s Dominant Position as Hash Rate Leader Under Threat MINING | 2 days ago Tags in this story 20.8T, 22 Pools, Antpool, Binance Pool, Bitcoin (BTC), bitcoin difficulty, Bitcoin mining, BTC difficulty, BTC Hashrate, BTC.com, difficulty, Difficulty Spike, F2Pool, Hashrate, mining bitcoin, Poolin


Image Credits: Shutterstock, Pixabay, Wiki Commons Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here. 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

News Feed

Australian Senator: We Need to Acknowledge Crypto Is Not a Fad, Defi Presents Huge Opportunities
Australian Senator: We Need to Acknowledge Crypto Is Not a Fad, Defi Presents Huge Opportunities Australian Senator Jane Hume says we need to acknowledge that cryptocurrency is not
Bitcoin Short-Term Holders Are Distributing Again — Local Price Top Imminent?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
How decentralization could have prevented the global Microsoft meltdown
Robert D. Knight11 hours agoHow decentralization could have prevented the global Microsoft meltdownThe recent Microsoft failure shows how vulnerable centralized systems are.2251 Total views28 Total sharesListen to articl
Runes and BRC-20s are just a stepping stone for Bitcoin DeFi
Zoltan Vardai10 hours agoRunes and BRC-20s are just a stepping stone for Bitcoin DeFiBitcoin is becoming a yield-generating asset, thanks to new token standards like Runes, which may only be a stepping stone for Bitcoin
Crypto Derivatives Volumes Crash 36% to $393 Billion in June, a Low for 2020
Crypto Derivatives Volumes Crash 36% to $393 Billion in June, a Low for 2020Crypto derivatives trading volumes plunged 36% to $393 billion in June, the lowest they have reached in 2
Bearish Case For Bitcoin: Analyst Warns Falling Wedge Is A Whale Trap That Could Drag Price To $67k
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Dow Erupts Higher But ‘Big Short’ Investor Fears Market ‘Bubble’
The Dow erupts higher on Thursday, but "Big Short" legend Michael Burry warns of a bubble in a key segment of the US stock market. | Source: AP Photo / Mark Lennihan By CCN Markets
XRP Surge Incoming? Analyst Predicts $77 Target—Here’s When
Este artículo también está disponible en español. XRP has been a popular topic among traders and analysts, with expectations of a large price increase making the rounds.
Celsius Files for Bankruptcy — Regulator Says the Crypto Lender Is ‘Deeply Insolvent’
Celsius Files for Bankruptcy — Regulator Says the Crypto Lender Is "Deeply Insolvent" Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “
Lbank’s Successful Web Summit Lisbon Exhibition, Free to Ride Campaign, and More
Lbank’s Successful Web Summit Lisbon Exhibition, Free to Ride Campaign, and More press release PRESS RELEASE.INTERNET CITY, DUBAI, LISBON, Nov. 4th, 2022 – Global crypto exchang
The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution
One company thinks it knows how to get a bitcoin exchange-traded fund (ETF) approved by U.S. regulators. Wilshire Phoenix, a relatively young financial firm in New York, filed to la
Ex-Binance adviser to join Kamala Harris campaign: Report
Turner Wright3 hours agoEx-Binance adviser to join Kamala Harris campaign: ReportThe prospective Democratic nominee’s position on crypto and blockchain is still unclear, but officials connected to the industry are repo