On Sunday, November 20, 2022, Bitcoin’s difficulty increase erased the last 0.20% drop recorded two weeks ago, as the difficulty indicator increased by 0.51% at block height 764,064. Sunday’s increase pushed the difficulty rating to a new all-time high, from 36.76 trillion to the current 36.95 trillion.
Bitcoin’s difficulty hits record high nearing 37 trillion, causing fiat value of crypto assets to drop
Today, the difficulty of finding a bitcoin has increased by 0.51% (bitcoin) block reward over the past two weeks or 2,016 blocks processed.This Increased by 0.51% has pushed the difficulty to an all-time high of 36.95 trillion, surpassing the previous all-time high set on October 23, 2022. Difficulty increased during this rebase, as the block interval was smaller than the 10-minute average of 9 minutes and 58 seconds. The average hash rate over the last 2,016 blocks is approximately 264.3 exahash per second (EH/s).
At around 7:15pm (ET) on Sunday night, the global hash rate was around 261.29 EH/s, eight days ago on November 12, 2022, at block height 762,845, Bitcoin’s hash rate hit an all-time high 347.16 EH/s. The next difficulty adjustment will be at or around December 4, 2022 The changed current block generation time is 9 minutes and 26 seconds. Difficulty changes are bad for Bitcoin miners, bitcoinThe current fiat value of , also does not help miners.
Hash Price Per Exahash Slides, Bitcoin Miners Deploy 8.25K Bitcoins To “Brace” Balance Sheets
Bitcoin’s current value is more than 76% below its all-time high set on November 10, 2021. On-chain analysis firm Glassnode explained on November 18, 2022 that the Bitcoin miner hash rate has fallen to an all-time low. “[Bitcoin] Miner hash price has dropped to an all-time low of $58,300 per exahash per day,” Glassnode tweets. “and [bitcoin] Now that prices are down more than 76% from their peak, the mining industry remains under significant pressure,” the firm added.
Since Glassnode’s tweet, the hash price per exahash has drop November 20 was even lower. [bitcoin] to shore up their balance sheets. This leaves about 78K [bitcoin] in the miner treasury, and eliminates all balance growth in 2022,” Glassnode Add toThree days of statistics recorded on Sunday showed Foundry USA as the top mining pool with around 71.76 EH/s or 27.36% of the global hash rate.
Foundry is followed by Antpool with 46.43 EH/s, F2pool with 40.40 EH/s and Binance Pool with 37.99 EH/s. Foundry, Antpool and F2pool are followed by Viabtc and Braiins Pool respectively.There are 13 known pools dedicating hashrate to bitcoin Chain and unknown hashrate (also known as stealth miners) accounts for 2.76% of the global hashrate or 7.24 EH/s.The miner managed to mine 435 Bitcoin blocks, equivalent to 2,718.75 newly minted Bitcoin blocks bitcoin Worth $44 million, plus fees associated with those blocks.
What do you think about Bitcoin’s 0.51% difficulty increase Sunday night? Let us know your thoughts on this topic in the comments section below.
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