While Bitcoin’s mining difficulty was expected to decrease two days ago on June 8, instead the difficulty increased by 1.29% on Wednesday. On the same day, at block height 739,928, Bitcoin’s hashrate tapped an all-time high (ATH) reaching 292.02 exahash per second (EH/s).
Bitcoin’s Blockchain Secured by Close to Three Hundred Quintillion Hashes per Second
This week, the Bitcoin network has never been more powerful as the protocol’s computational processing power reached a lifetime high on Wednesday. In fact, at 292.02 EH/s the network neared the 300 EH/s region for the first time.
The last hashrate ATH took place on May 2, 2022, at Bitcoin block height 734,577, when it reached 275.01 EH/s. The jump to 292.02 EH/s 37 days later, was approximately 6.18% higher than the ATH on May 2. The ATH on Wednesday was only 2.73% away from reaching 300 EH/s or 0.3 zettahash per second (ZH/s) range.
The hashrate has been running so high that the difficulty adjustment algorithm (DAA) that was expected to decrease, increased by 1.29% instead. Three days ago on June 7, the difficulty was expected to see a reduction of 0.51%.
Despite the 1.29% increase, the difficulty is still lower than the ATH of 31.25 trillion recorded on May 10, 2022. The network’s difficulty is currently at 30.28 trillion and it is expected to remain at that metric until the retarget date on June 21. That’s roughly ten days from now or around 1,600 blocks away until the next DAA change.
At 292 exahash per second, two hundred ninety-two quintillion hashes per second (H/s) were dedicated to the Bitcoin blockchain’s security on Wednesday. Three-day statistics show that Foundry USA has been the top mining pool, with fifty-two quintillion four hundred twenty quadrillion H/s or 52.42 EH/s.
Foundry has discovered 109 Bitcoin block rewards out of the 475 blocks mined during the last 72 hours. Antpool’s hashrate has hovered around 35.11 EH/s or thirty-five quintillion one hundred ten quadrillion H/s. Antpool found 73 blocks out of the 475 blocks found and F2pool captured 32.EH/s and discovered 67 blocks over the last three days.
Current hashrate speeds and the rate it takes to mine the next 1,600 blocks will determine the next difficulty change. Currently, using today’s metrics, the difficulty is expected to increase by 1.52% from the current position, but that estimate is likely to change.
What do you think about Bitcoin’s hashrate hitting an all-time high at 292 exahash per second? Let us know what you think about this subject in the comments section below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin-Tidings.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-Tidings.com News about the disruptive protocols emerging today.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.