Fun

Bitcoin Miners Catch a Second Break With Another Downward Difficulty Adjustment

News Feed - 2022-03-19 12:03:19

Bitcoin Miners Catch a Second Break With Another Downward Difficulty Adjustment


Five days ago, Bitcoin’s hashrate had shown improvement as it increased 15% over the course of ten days and today, the computational power remains above the 200 exahash per second (EH/s) region. Meanwhile, bitcoin miners caught another break on Thursday, as the network’s mining difficulty adjusted downward for the second time in a row, making it 0.35% less difficult to find a block reward. Bitcoin’s Mining Difficulty Drops for Second Time in a Row at Block Height 727,776


At the time of writing, the computational power behind the Bitcoin (BTC) network is coasting along at 213.27 EH/s, and for a majority of the time during the last seven days BTC’s hashpower has remained above 200 EH/s. On Thursday, at block height 727,776, bitcoin miners caught a break when the network’s mining difficulty dropped downwards 0.35%. The 0.35% slide is the second drop in a row after the network’s difficulty slid 1.49% on March 3.


With the two difficulty drops combined, it is now 1.84% easier to find a bitcoin block subsidy than it was before March 3. On that day, the difficulty was 27.96 trillion and at the time of writing, Bitcoin’s network difficulty is 27.45 trillion. The downward drop on Thursday at block height 727,776 was a small shift downward, as it was expected to increase according to estimations recorded on March 13. While the difficulty has seen two consecutive decreases, prior to those adjustments, the difficulty increased six times in a row. Foundry USA Commands This Week’s Top Mining Pool Position, Educated Estimates Guess the Mining Difficulty Could Increase During the Next Shift


Despite the 1.84% difficulty decrease over the last month, BTC’s mining difficulty is still the highest it’s been during the network’s lifetime. The network’s all-time difficulty high was the 27.96 trillion that miners dealt with before the 1.49% dip at block height 725,760. Furthermore, there are still 11 known mining pools dedicating hashpower to the network and around 2.35 EH/s of hashrate belongs to unknown miners. Stealth miners — often referred to as an “unknown” pool — have found 12 bitcoin blocks during the last week.


Seven-day statistics indicate that Foundry USA was the week’s top bitcoin mining pool capturing 228 bitcoin blocks. Weekly metrics show Foundry USA commands 21.76% of the global hashrate, or 44.62 EH/s. The second-largest miner in terms of seven-day hashrate stats is F2pool as the pool acquired 141 bitcoin block rewards this past week.


F2pool’s hashrate represents 13.45% of the global hashrate with the pool’s 27.59 EH/s of hashpower. Foundry USA and F2pool are followed by Antpool, Poolin, and Viabtc, respectively, in terms of the top five mining pools during the past week. With the current hashrate speed it is estimated that the next difficulty change will take place in just over 12 days from now.


As mentioned above, the estimation of exactly when the adjustment will happen and how much it will decrease or increase is an educated guess made by leveraging current statistics. Estimations currently show the difficulty change in 12 days’ time could be a 0.57% increase. Although, by the time it gets closer, Bitcoin’s difficulty change could increase a lot more than that, or even experience another downward adjustment. Tags in this story 200 EH/s, 200 exahash, Antpool, Bitcoin, Bitcoin (BTC), Bitcoin Miners, Bitcoin mining, BTC Mining Rigs, computational power, difficulty, Difficulty Adjustment, Estimations, F2Pool, Foundry USA, Hashpower, Hashrate, Mining BTC, Mining Pools, network difficulty, Poolin, ViaBTC


What do you think about Bitcoin’s difficulty dropping for the second time in a row? 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 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. ASIC Mining Rig Manufacturer Canaan Reveals $100 Million Stock Buyback Program MINING | 1 day ago Kazakhstan Shuts Down Over 100 Crypto Mining Farms MINING | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: BTC Remains Above $40,000 Despite Recent Pullback Next articleJapanese Fintech Firm Kyash Raises $41 Million, Jack Dorsey’s Block Participates in Funding 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 ItChinese Authorities Arrest Alleged Masterminds Behind an Online Virtual Currency Pyramid Scheme


Authorities in China recently announced the arrest of ten suspects they say are behind an online pyramid platform that is thought to have stolen millions of dollars from unsuspecting users. The suspects are accused of using the promise of high ... read more.Binance Now Fully Licensed by Central Bank of Bahrain to Offer Crypto Services Aptos, Led by Meta"s Ex-Employees, Gets $200 Million to Build a Scalable Blockchain System BNDES Director Offers New Insights on Development of Brazilian Blockchain Network UAE Hospitality Brand Stella Stays Now Accepts Crypto

News Feed

Georgia to Update Crypto Regulations to Incorporate EU Rules, Legalize Industry
Georgia to Update Crypto Regulations to Incorporate EU Rules, Legalize Industry The government of Georgia has approved amendments to the legal framework for the Caucasian nation&#x
Economist Peter Schiff Warns the Fed Could Be Fighting ‘Complete Economic Collapse’
Economist Peter Schiff Warns the Fed Could Be Fighting "Complete Economic Collapse" Economist Peter Schiff has predicted that the U.S. Federal Reserve will ultimately throw in the
AI researchers want to solve bot problem by requiring ID to use internet
Tristan Greene4 hours agoAI researchers want to solve bot problem by requiring ID to use internetThe researchers based their ideas on “proof of personhood” technologies developed by the blockchain community.1101 Tota
New Bybit User? Get up to $600 in Welcome Rewards
New Bybit User? Get up to $600 in Welcome Rewards sponsored New Bybit users can get up to $600 in welcome rewards upon completing simple tasks and hitting trading milestones after s
Mark Cuban’s Bitcoin Plan: Run for President if BTC Hits $1 Million, Free Satoshis for Every Citizen
Mark Cuban"s Bitcoin Plan: Run for President if BTC Hits $1 Million, Free Satoshis for Every Citizen Billionaire Shark Tank investor Mark Cuban has shared his id
$100 Million Liquidated on Defi Protocol Compound Following Oracle Exploit
$100 Million Liquidated on Defi Protocol Compound Following Oracle Exploit Lenders on decentralized finance (defi) protocol Compound on Thursday got liquidated f
Tom Mitchelhill2 hours agoMyanmar’s shadow government backs launch of crypto-based bankThe Spring Development Bank is Myanmar’s first financial institution to run entirely on crypto and blockchain.2357 Total views15
NFT Sales Jumped 22% Higher This Month With $568 Million in NFTs Sold Across 20 Blockchains
NFT Sales Jumped 22% Higher This Month With $568 Million in NFTs Sold Across 20 Blockchains Non-fungible token (NFT) sales have shown improvement during the last month as 30-day st
Crypto Firm Uquid Launches Marketplace- 30,000 Digital Products, Bitcoin Cash Support
Crypto Firm Uquid Launches Marketplace- 30,000 Digital Products, Bitcoin Cash SupportOn May 28, 2020, the digital currency and blockchain company Uquid has announced that the Uquid
Regulatory Roundup: New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto
Regulatory Roundup: New US Crypto Bill, France"s 1st Approved ICO, Muslim Crypto In this roundup, we cover a wide range of regulatory developments in the crypto space. Much has t
Zhiyuan Sun2 hours agoUniswap to charge 0.15% swap fees beginning Oct. 17Fees will not be collected on inter-stablecoin trades, nor on wrapping Ether.1166 Total views7 Total sharesListen to article 0:00NewsJoin us on soc
Ripple begins testing RLUSD stablecoin on mainnet
Vince Quill6 hours agoRipple begins testing RLUSD stablecoin on mainnetRipple believes the total stablecoin market will have swollen to $2 trillion by 2028 as demand for the low-volatility fiat-pegged tokens grows.2297 T