Bitcoin mining difficulty fell to a high of 685,440 blocks this week and saw its biggest downside drop of the year close to 16%. Overall the global hash rate has fallen by almost 2% as the price has fallen below the $ 40k handle. Currently, the mining difficulty is around $21 trillion, and it could drop another 16% in less than two weeks.
The difficulty of bitcoin mining slipped closer to 16% after increasing the difficulty of the biggest era of 2021
bitcoin price (B T c) has seen good days and after the price drop, the hash rate has also slowed down somewhat. On May 29, 2021, the block height of the bitcoin network at 685,440 Mining difficulty decreased by 15.97%, which is the biggest epoch drop of 2021.
It also follows the biggest difficulty increase in 2021, which occurred at a block height of 683,424. At the time, the mining difficulty had exceeded 21.5% and the global hash rate was around 179.2 EH/s on May 13.
Right now, according to the data, the mining difficulty is expected to be around 15.69% in 12 days even lower. This percentage drop would equate to a difficulty drop of 17.75 trillion from the current 21.05 trillion difficulty. A 16% difficulty drop is a large swing, given that the largest drop in 2021 was around 12.6%. At the time of publication, the hash rate of bitcoin is approx. 135 to 150 Eh/s range.
In 3 Years, Bitcoin’s Difficulty Has Grown 72%
$ 40,000 per The total hash rate has fallen by almost 2% since falling below B T c But since May 9, it has fallen by about 35% from 214 EH/s to 135 EH/s. With difficulty decreasing, there are a large number of pools dedicated to hashrate B T c Chain. Currently, 20 mining pools are processing B T c Block and F2pool is at the top with a hash rate of 23.25 EH/s or over 15%.
F2pool is followed by Viabtc, Btc.com, Antpool, Poolin, Binance Pool, Foundry USA and 1thash. Since January 2018, the Bitcoin network has seen 91 consecutive difficulty changes and only 25 of them were downstream. This means that during the past three years, more than 72% of the times, the difficulty increased every two weeks.
What do you think about Bitcoin’s mining difficulty falling close to 16%? Tell us what you think about this topic in the comments section below.
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