Fun

Bitcoin’s Mining Difficulty Slides 5% Dropping to Levels Not Seen Since March

News Feed - 2022-07-22 06:07:48

Bitcoin"s Mining Difficulty Slides 5% Dropping to Levels Not Seen Since March


On July 21, 2022, at 2:14 p.m. (ET) at block height 745,920, Bitcoin’s mining difficulty dropped by 5.01% outpacing the last two epoch changes. The latest downward shift makes it 5% easier to find blocks than it was during the past two weeks, and roughly 8.77% easier since June 22. It’s Now 11.39% Easier to Find a Bitcoin Block Since the Difficulty’s All-Time High on May 10


Bitcoin miners caught a break this week as the difficulty adjustment algorithm (DAA) adjusted downward for the third week in a row. The network’s difficulty is essentially measured by how difficult it is to find the correct hash for every minted block subsidy.


The difficulty epoch is assessed every 2,016 blocks, and if the time it takes to mine those blocks is too fast, difficulty increases, and if it’s too slow, the difficulty decreases. The last difficulty increase took place on June 8, 2022, at block height 739,872, as it rose 1.29% higher than the two weeks prior. Since the mining difficulty’s all-time high on May 10, the difficulty has dropped 11.39%.


During the four weeks before the most recent DAA shift, the network recorded two reductions. The first one occurred on June 22, at block height 741,888, as it dropped by 2.35% that day.


The second difficulty change that followed occurred on July 6, at block height 743,904. That particular drop was around 1.41% and the difficulty dropped to 29.15 trillion. Today, after block height 745,920, the difficulty is now 27.69 trillion, a parameter not seen since March 17, 2022.


At the time of writing, it is 11.39% easier to find a bitcoin block than it was when the difficulty reached an all-time high on May 10, at block height 735,840. The record height was 31.25 trillion and so far, 3.56 trillion has been erased from the network’s difficulty.


During the last two weeks, prior to the most recent difficulty adjustment, BTC’s hashrate saw an average of around 197.4 exahash per second (EH/s). In the last 30 days, Foundry USA captured the most block subsidies as it found 926 blocks out of the 4,165 mined last month.



 


Foundry’s hashrate during the last month was around 22.23% of the entire global network. The mining operation was followed by Antpool, which managed to find 638 block rewards, and F2pool discovered 606 blocks.


Binance Pool found 505 blocks and during the past 30 days, Poolin captured 434 block rewards. There were 13 known bitcoin mining operations that found 4,108 blocks during the one-month span, while unknown hashrate, otherwise known as stealth miners, managed to find 57 blocks. Tags in this story 13 known pools, 200 EH/s, Antpool, Bitcoin Miners, Bitcoin mining, Bitcoin Mining Operations, Bitcoin’s hashrate, BTC hashpower, BTC Hashrate, BTC Mining, BTC network, DAA, difficulty adjustment algorithm, difficulty change, Exahash, F2Pool, Foundry USA, mining bitcoin, Mining BTC, Mining Difficulty, Poolin, Unknown Miners


What do you think about the recent mining difficulty drop? Let us know your thoughts 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 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Masked Men Rob Large Crypto Mining Farm Near Moscow MINING | 2 days ago Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv MINING | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSaudi Chemicals Producer SABIC Launches Blockchain Pilot Project Next articleXiaomi Files Patent to Create Its Own Blockchain-Powered Virtual Characters 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 ItBitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals


A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Savannah Fortis4 minutes agoStanford to return millions in crypto donations from FTXThe university said it intends to return the “entirety” of funds received from former cryptocurrency exchange FTX, which it claims w
SEC Chair Gensler Affirms Bitcoin Is a Commodity — ‘That’s the Only One I’m Going to Say’
SEC Chair Gensler Affirms Bitcoin Is a Commodity — "That"s the Only One I"m Going to Say" The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bi
US Lawmakers Call for More Oversight of Cryptocurrency’s Environmental Impacts
US Lawmakers Call for More Oversight of Cryptocurrency"s Environmental Impacts Twenty-three U.S. lawmakers have called on the U.S. Environmental Protection Agency (EPA) to increase
Zhiyuan Sun3 hours agoSBF grilled in court on deleted messages during testimonyThe disgraced crypto executive claimed that he merely acted on various lapses in the company’s data retention policy.920 Total views4 Total
Veriblock Captured Close to 60% of BTC’s OP Return Transactions in 2019
Veriblock Captured Close to 60% of BTC"s OP Return Transactions in 2019 During the course of 2019 the most used BTC-based OP_Return protocol, Veriblock, outshined Omni Layer outp
APAC crypto crime spikes amid legal resource shortages: Chainalysis report
Josh O"Sullivan1 hour agoAPAC crypto crime spikes amid legal resource shortages: Chainalysis reportAPAC’s struggle with increasing crypto crime is exacerbated by a shortage of legal resources and inadequate training fo
Solana Approaches Make-or-Break Level As Technicals And Fundamentals Align – Analyst
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
Latam Still Unprepared to Deal With Crypto Crime and Scams, According to GFI Report
Latam Still Unprepared to Deal With Crypto Crime and Scams, According to GFI Report Latam is still unprepared to deal with cryptocurrency-related crimes and scam situations, accord
Iconic Staples Center, Home of Los Angeles Lakers, Changing Name to Crypto.com Arena
Iconic Staples Center, Home of Los Angeles Lakers, Changing Name to Crypto.com Arena Staples Center, one of the most iconic and globally recognized sports and entertainment arenas
Polkadot Lays Out Its Plans for Parachain Rollout as the Token’s Price Climbs
Polkadot Lays Out Its Plans for Parachain Rollout as the Token"s Price Climbs The price of Polkadot’s native token hit an all-time high (ATH) this week, so
BBVA Switzerland Launches ‘New Gen’ Digital Account With Integrated Crypto Wallet
BBVA Switzerland Launches ‘New Gen’ Digital Account With Integrated Crypto Wallet Clients of BBVA Switzerland will be able to buy, store, and trade crypto assets with a digital
Bitcoin Sentiment on Twitter Reaches Its Highest Level in 3 Years, Says Data Firm The Tie
Bitcoin Sentiment on Twitter Reaches Its Highest Level in 3 Years, Says Data Firm The TiePositive investor sentiment about bitcoin (BTC) on Twitter has reached record levels –