In short: Bitcoin's mining difficulty, currently at 49.55 trillion, is expected to breach the 50 trillion threshold within five days. The hashrate has maintained an average rate of 364 exahash per second (EH/s) in the last 2,016 blocks, with a peak of 427 EH/s. Block intervals suggest that there will be another rise in difficulty, potentially ranging from 1.1% to 2.51% on May 31. Foundry USA leads with a 127.93 EH/s hashrate, amounting to 35.54% of the entire network's total.
Our quick analysis:
Bitcoin's mining difficulty is reaching a new milestone, with projections showing that it could rise between 1.1% to 2.51% on May 31, 2023, potentially reaching the 50 trillion mark. This is quite an accomplishment for Bitcoin and its miners, who have been able to maintain an average hashrate of 364 exahash per second (EH/s) during the last 2,016 blocks, despite the increasing difficulty.
While the rise in mining difficulty may seem daunting, it is a testament to the growing interest and activity around Bitcoin. In fact, on May 2, 2023, Bitcoin's hashrate reached a historic high of 491.15 EH/s—an impressive feat, indeed. And with the network's hashrate continuing to increase, it's no surprise that block intervals are becoming faster—less than ten minutes for the most recent block recorded at block height 791,491.
As of May 26, 2023, Foundry USA leads the pack among mining pools with a 127.93 EH/s hashrate—accounting for 35.54% of the entire network's total. Other mining pools like Antpool, F2pool, Viabtc, and Binance Pool are all following closely behind. Over the previous month, Bitcoin miners have unearthed a total of 4,396 blocks, with Foundry discovering 1,373 of those blocks as of May 26.
It's exciting to see Bitcoin continue to grow and reach new heights, but what does this mean for its future? What are your predictions for Bitcoin's mining difficulty after it crosses the 50 trillion mark? Share your thoughts and opinions in the comments section below. After all, it takes a community to keep Bitcoin flying high.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Bitcoin's mining difficulty is reaching a new milestone, with projections showing that it could rise between 1.1% to 2.51% on May 31, 2023, potentially reaching the 50 trillion mark. This is quite an accomplishment for Bitcoin and its miners, who have been able to maintain an average hashrate of 364 exahash per second (EH/s) during the last 2,016 blocks, despite the increasing difficulty.
While the rise in mining difficulty may seem daunting, it is a testament to the growing interest and activity around Bitcoin. In fact, on May 2, 2023, Bitcoin's hashrate reached a historic high of 491.15 EH/s—an impressive feat, indeed. And with the network's hashrate continuing to increase, it's no surprise that block intervals are becoming faster—less than ten minutes for the most recent block recorded at block height 791,491.
As of May 26, 2023, Foundry USA leads the pack among mining pools with a 127.93 EH/s hashrate—accounting for 35.54% of the entire network's total. Other mining pools like Antpool, F2pool, Viabtc, and Binance Pool are all following closely behind. Over the previous month, Bitcoin miners have unearthed a total of 4,396 blocks, with Foundry discovering 1,373 of those blocks as of May 26.
It's exciting to see Bitcoin continue to grow and reach new heights, but what does this mean for its future? What are your predictions for Bitcoin's mining difficulty after it crosses the 50 trillion mark? Share your thoughts and opinions in the comments section below. After all, it takes a community to keep Bitcoin flying high.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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