Bitcoin network experiences slight drop in difficulty after record high
At the time of writing, after a 0.49% decrease in difficulty at block height 776,160, bitcoin’s hash rate appears to be increasing by 289.14 exe hashes per second (EH/s), which is roughly the same as the previous 2016 block or 2 weeks of difficulty. Operates on approximately 39,350,942,467,772 hashes. With the recent reduction in difficulty level to 0.49% the network difficulty itself will now be set at 39.16 trillion hashes for the next 2 weeks and block time after the latest change the interval between mining blocks – 10 minutes, from 7 seconds approx 11 minutes, 14 seconds is long and bitcoin’s next difficulty target is also set to be seen around February 26, 2023. The average hash rate over the last 2,016 blocks was approximately 280.6 exahash per second (EH/s), and the average block time for those blocks was 10 minutes, 2 seconds. During the past 3 days we can see that Foundry USA has been a top mining pool with 33.26% of the global hashrate or about 95.89 exahash per second (EH/s) hashpower and is followed by Foundry with 15.97% of the global hash rate and computational With 15.54% of the power is Antfool with Binance Pool. F2pool (14.22%) and Viabtc (9.41%) are next respectively. Today there are about 12 known mining pools, and the top five control 88.4% of the global hash rate. According to data from macromicro.me, the cost of bitcoin production remains higher than its current spot market price. The presented data calculates estimates based on electricity consumption and daily bitcoin issuance figures provided by Cambridge University and currently the average cost of mining 1 bitcoin is approximately $24,119, while its spot market price is approximately $21,901 per bitcoin.
