• Bitcoin miners are expected to get a break in two days, with mining difficulty dropping by close to 4%

  • While Bitcoin’s hashrate has maintained over 200 exahash per second (EH/s), the network’s mining difficulty has reached an all-time high (ATH) of 31.25 trillion in the previous two weeks. However, when 289 blocks have been mined, or around two days from now, Bitcoin’s mining difficulty is expected to drop 3.67 percent, providing some relief to miners following the latest difficulty ATH.

    Bitcoin’s Next Difficulty Change Could Benefit Miners

    The Bitcoin (BTC) network hashrate is currently about 210 to 225 EH/s, following the network’s ATH on May 2, 2022. At block height 734,577, Bitcoin’s hashrate reached 275.01 EH/s on that day.

    Furthermore, the blockchain network’s difficulty adjustment algorithm (DAA) has climbed twice since April 27, reaching a lifetime high of 31.25 trillion on May 10. The difficulty level has made it the most difficult moment in history to mine BTC, and on top of the DAA hikes, BTC’s price has fallen by more than 23% in the last 30 days.

    Bitcoin miners are still profitable, however according to asicminervalue.com, using today’s BTC exchange rates and electricity prices of $0.12 per kilowatt-hour (kWh), only 27 mining rigs are profitable today. With 198 terahash per second (TH/s), Bitmain’s Antiminer S19 Pro+ Hyd. can earn an estimated $8.93 per day.

    A Canaan Avalonminer 1246 with 90 TH/s can earn approximately $1.34 per day in BTC income. Even though the difficulty is higher than ever and the price is lower, bitcoin miners may get a reprieve in two days when the DAA shifts.

    At the time of writing, the anticipated difficulty change might be 3.67 percent when 289 blocks are mined. The difficulty will fall from 31.25 trillion to 30.11 trillion in two days. Of course, the expected DAA may change during the time required to mine the 289 bitcoin blocks.

    Meanwhile, Foundry USA has been the top bitcoin mining pool in terms of blocks found and hashrate for the last three days. Foundry controls 45.92 EH/s of hashpower, or 21.80 percent of BTC’s hashrate. Over the last three days, the mining operation has discovered 87 blocks out of 399.

    Antpool from Bitmain owns 14.29 percent of the worldwide hashrate, or 30.08 EH/s. Antpool has discovered around 57 of the 399 blocks discovered over the three-day period. There are now just 12 known mining pools dedicating hashrate to the BTC network, with stealth miners accounting for 0.25 percent of the hashrate.

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