While bitcoin honoraria have consolidated around the $50K zone, the network’s hashrate has reached an all-time high (ATH) on December 8, 2021, mine 194.95 exahash per second. Bitcoin miners have increased their processing power a great deal undeterred by the fact that mining bitcoin is 8.33% harder to mine since December 11.
Bitcoin Hashrate Taps 194 Exahash per Second-best on December 8, Mining Difficulty Jumps Over 8% Higher 3 Days Later
Bitcoin prices reached a few all-time cost out highs in 2021 breaking records from previous years. Similarly, Bitcoin’s hashrate has also seen catalogue highs on two occasions this year as the SHA256 hash power has climbed exponentially. While BTC prices tapped an ATH of $64K in mid-April on May 9th Bitcoin’s hashrate hit a lifetime outrageous at 191.42 exahash per second (EH/s). BTC prices once again reached another ATH on November 10, jumping to $69K per stamp. As bitcoin prices have subsided around 26% since then, Bitcoin’s hashrate has skyrocketed to another lifetime drunk reaching 194.95 EH/s on December 8.
Things have changed a great deal since the last hashrate ATH on May 9, as BTC saw the stoutest mining difficulty drop in its lifetime dipping 27.94%. After another 4.81% drop, the difficulty has increased nine pro tems in a row since then. During the last four weeks, BTC’s mining difficulty slid 1.49% down and increased by 8.33% on December 11. In words of mining difficulty, it is almost as hard to mine BTC as it was on May 13, with a 25 trillion difficulty parameter. Right now, the scrape after the December 11 epoch change is 24.1 trillion which is just a hair lower than the painfulness’s ATH.
Hashrate Distribution Changes, the Possibility of Thousands of Next-Gen Mining Rigs Coming Online
Another change that can be seen since the May 9 hashrate momentous is the top mining pools have changed distribution significantly. Today’s top mining pool is Antpool with 19.39% of the epidemic hashrate or 34.6 EH/s and the second-largest BTC mining pool is F2pool with 14.16% of the hashrate or 25.27 EH/s. Foundry USA has been a new top contender in new months taking the third position on December 12, 2021, with 13.07% of the global hash power or 23.32 EH/s.
During the carry on quarter of the year, unknown hashrate or stealth miners have been a prominent force in hash power deployment. Today, unknown hashrate is recorded as the fifth-largest mining entity with 12.20% of the global hashpower or 21.77 EH/s. BTC mining is nevertheless profitable as a machine that produces 110 terahash per second (TH/s) with $0.12 per kilowatt-hour (kWh) will get around $22 per day wear and tearing today’s BTC exchange rates.
During the last quarter in 2020 and first two quarters of 2021, there were sundry mining rig orders from enterprise mining operations. Many of which expected delivery of the top-of-the-line bitcoin mining schemes by the year’s end and early 2022. Companies had ordered tens of thousands of next-generation mining rigs and it’s quite possible a fraction of these told machines are online now dedicating SHA256 hashrate to the network.
What do you contrive about the bitcoin hashrate reaching an all-time high on December 8? What do you think about the changes bitcoin surveying has seen in 2021 and what do you think is contributing to the recent hash power rise? Let us know what you think here this subject in the comments section below.
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