• The difficulty of mining bitcoin has dropped by 4.33 percent, the most in ten months

  • The difficulty adjustment algorithm (DAA) has fallen from 31.25 trillion to 29.85 trillion, making it 4.33 percent simpler to mine bitcoin over the next two weeks.

    It’s the biggest decline in DAA since July 17, 2021, when the difficulty fell 4.81 percent at block height 691,488.

    The Bitcoin Mining Difficulty has dropped 4.33 percent, the most since July 2021.

    Mining bitcoin is much easier than it was before May 25, 2022, according to a 4.33 percent reduction in difficulty in Bitcoin’s difficulty adjustment algorithm (DAA).

    Bitcoin’s difficulty was roughly 31.25 trillion prior to the decline, and it is now approximately 29.85 trillion following the greatest drop since July 2021.

    On Wednesday, the DAA was changed at block height 737,856.

    Bitcoin’s USD value has recently fallen, therefore lowering the difficulty helps miners recoup some of their losses by making it 4.33 percent simpler to locate bitcoin block rewards. A Bitmain Antminer S19 Pro+ Hyd. with 198 terahash per second (TH/s) hashpower can currently earn an estimated $9.24 per day in BTC profits.

    For a long time, Bitcoin’s global hashrate has been constant and above the 200 exahash per second (EH/s) mark. Bitcoin’s hashrate reached an all-time high of 275 EH/s on May 2, 2022, at block height 734,577.

    There are currently 1,864 bitcoin (BTC) blocks available until the next DAA change on June 8, 2022, and 101,992 blocks available until the next reward halving. Before the block reward is halved, there will be around 51 consecutive DAA modifications every two weeks.

    The present difficulty of Bitcoin, the USD value, and a cost of $0.12 per kilowatt-hour (kWh) make machines that produce 30 terahash per second (TH/s) unprofitable unless the miner pays less than $0.12 per kWh. For example, if power costs $0.12 per kWh, the Innosilicon T3+ (52 TH/s) earns roughly $0.21 per day in BTC profits.

    According to three-day mining pool data, there are now 12 known mining pools dedicating SHA256 hashpower to the BTC chain. Unknown or stealth miners with roughly 3.04 EH/s of hashpower account for approximately 1.44 percent of the global hashrate.

    Foundry USA has been the top bitcoin mining pool in terms of global hashrate and blocks found during the last 72 hours, according to metrics. Foundry’s hashrate is around 24.28 percent of Bitcoin’s worldwide hashrate, or 51.10 EH/s, at the time of writing. Out of the 416 blocks discovered in the last three days, the pool discovered 101 BTC block rewards.

    Bitmain’s Antpool discovered 61 of the 416 blocks discovered in three days, making it the second largest pool in terms of computational power. Antpool’s hashrate of 30.86 EH/s translates to 14.66% of the worldwide aggregate.

    With BTC’s difficulty at 29,850,529,410,160, projections now show that another reduction is on the way, but 13 days can modify the estimate significantly. The DAA is estimated to be 0.16 percent lower at the time of writing.

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