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The computing power behind the Bitcoin network has recently reached a lifetime high and has continued to remain above the 180 exahash (EH/s) area per second. Five months ago, computing power fell to a low of 69 EH/s. Since then, computing power has increased by 163% in the past 178 days or five months ago.
Following China’s crackdown on Bitcoin mining last summer, Bitcoin’s computing power continued to boom at the end of the year
Miners use SHA256 computing power for the Bitcoin blockchain and have maintained a processing capacity of more than 180 EH/s. As of this writing on December 23rd, BitcoinThe hash rate hovered above the 186 EH/s area.The recent hash rate highs are as follows BitcoinHigh lifetime computing power Tapping 194.95 EH/s December 8, 2021. Since then, indicators have shown that the hash rate has been hovering below the region, and 30-day statistics show that it has rapidly approached the December 8 high on several occasions.
BitcoinThe hash rate of is currently much better than the record on June 28, 2021, when the processing power dropped to 69 EH/s. As China’s mining business in China was hit, the network’s computing power dropped from 191 EH/s on May 9 to 69 EH/s at the end of June, a loss of 63.87%. Five months later, the computing power rebounded and recovered the processing power lost during that time. At the end of June, BitcoinThe price is much lower, at 34,000 US dollars per unit.
Difficulty is expected to drop slightly, the US foundry tops the list this week
This past week Bitcoin It has been trading at a price of US$46,500 to US$49,500, which keeps the computing power strong-even after the network’s mining difficulty jumped 8.33% on December 11. In fact, the difficulty of the network may be reduced for the first time since then. It fell by 1.49% on November 28. At the time of writing, the difficulty is expected to drop again by 0.23% in 24 hours from now. This will reduce the current mining difficulty of 24.20 trillion by one level to 24.14 trillion.
Currently, the largest Bitcoin (Bitcoin) In terms of overall computing power, the miner is the American Foundry, which accounts for 17.17% or 29.82 EH/s of the global computing power. Today’s second largest miner is Bitmain’s Ant Pool, which has 14.78% of the world’s computing power or 25.67 EH/s. The Ant Pool is closely followed by Viabtc (14.57%), F2pool (13.26%) and Binance Pool (12.17%). Unknown computing power or invisible miners control 12.17% of the network computing power, making it the sixth largest entity in the world. At the time of writing, the unknown computing power has a computing power of 21.14 exahash per second.
What do you think of the current state of Bitcoin network hash rate driven by Proof of Work (PoW)? Please tell us your thoughts on this topic in the comments below.
Image Source: Shutterstock, Pixabay, Wiki Commons, coinwarz,
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