Bitcoin Mining Difficulty Surpasses 50 Trillion for the First Time, Reaching a Record 51.23 Trillion

0 9

Bitcoin Mining Difficulty Surpasses 50 Trillion for the First Time, Reaching a Record 51.23 Trillion

knife

On Wednesday, Bitcoin reached a new milestone as its mining difficulty increased by 3.4% at block height 792,288, setting a fresh record. The difficulty level surpassed the 50 trillion mark for the first time in Bitcoin’s history, hitting an unparalleled 51.23 trillion.

Bitcoin Mining Difficulty Jumps 3.4% Higher

Data reveals that around 373 exahash per second (EH/s) of hashrate is committed to the Bitcoin blockchain, and the network’s hashpower has been consistently growing. For instance, on May 2, 2023, at block 787,895, the network’s hashrate reached an all-time high of 491.15 EH/s. Due to this escalated hashrate and quicker block intervals, the difficulty rose by 3.22% on May 18 at block height 790,272.

The most recent difficulty adjustment transpired at block height 792,288 with a 3.4% increase. The difficulty climbed from 49.55 trillion to the present 51.23 trillion after Wednesday’s surge. This is the first time Bitcoin has registered a difficulty above the 50 trillion mark; the figure of 51.23 trillion represents the lowest value a computed hash must be below for a miner to successfully mine a new block.

Bitcoin Mining Difficulty Surpasses 50 Trillion for the First Time, Reaching a Record 51.23 Trillion

This change signifies that discovering a BTC block has never been more challenging; due to increased difficulties in mining, it now necessitates heightened computational power and resources to find a valid hash and secure mining rewards. Currently, Foundry USA is the leading mining pool contributing the most hashrate to the network with 114.75 EH/s and commanding 30.26% of the total hashrate on May 31.

Following Foundry’s lead include the mining pools Antpool (79.75 EH/s), F2pool (55.34 EH/s), Binance Pool (34.99 EH/s), and Viabtc (29.30 EH/s). The network recorded an average hashrate of roughly 366 EH/s throughout the last 2,016 blocks. The next difficulty adjustment on the Bitcoin network is slated to take place around June 14, 2023. Despite the rising mining difficulty, bitcoin miners carry on undeterred, and the overall network hashrate continues to remain constant, indicating an unwavering trend of activity.

What are your thoughts about the difficulty hitting an all-time high of 51.23 trillion on Wednesday? Share your views and opinions on this topic in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 65,291.49
ethereum
Ethereum (ETH) $ 3,385.82
tether
Tether (USDT) $ 0.997913
solana
Solana (SOL) $ 186.21
bnb
BNB (BNB) $ 528.82
xrp
XRP (XRP) $ 0.607012
staked-ether
Lido Staked Ether (STETH) $ 3,383.43
usd-coin
USDC (USDC) $ 0.997802
avalanche-2
Avalanche (AVAX) $ 59.10
cardano
Cardano (ADA) $ 0.628306
dogecoin
Dogecoin (DOGE) $ 0.133746
shiba-inu
Shiba Inu (SHIB) $ 0.000026
the-open-network
Toncoin (TON) $ 3.70
polkadot
Polkadot (DOT) $ 9.28
tron
TRON (TRX) $ 0.122571
chainlink
Chainlink (LINK) $ 17.53
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 65,108.44
matic-network
Polygon (MATIC) $ 0.976604
uniswap
Uniswap (UNI) $ 11.17
bitcoin-cash
Bitcoin Cash (BCH) $ 373.76
near
NEAR Protocol (NEAR) $ 6.74
litecoin
Litecoin (LTC) $ 82.20
aptos
Aptos (APT) $ 14.73
internet-computer
Internet Computer (ICP) $ 11.55
leo-token
LEO Token (LEO) $ 5.82
dai
Dai (DAI) $ 0.997504
filecoin
Filecoin (FIL) $ 8.55
bittensor
Bittensor (TAO) $ 691.22
cosmos
Cosmos Hub (ATOM) $ 11.24
ethereum-classic
Ethereum Classic (ETC) $ 29.74
render-token
Render (RNDR) $ 10.89
arbitrum
Arbitrum (ARB) $ 1.56
blockstack
Stacks (STX) $ 2.63
immutable-x
Immutable (IMX) $ 2.66
okb
OKB (OKB) $ 61.24
the-graph
The Graph (GRT) $ 0.384604
stellar
Stellar (XLM) $ 0.126029
hedera-hashgraph
Hedera (HBAR) $ 0.105943
crypto-com-chain
Cronos (CRO) $ 0.128017
injective-protocol
Injective (INJ) $ 36.65
optimism
Optimism (OP) $ 3.17
first-digital-usd
First Digital USD (FDUSD) $ 0.997647
kaspa
Kaspa (KAS) $ 0.128064
vechain
VeChain (VET) $ 0.03999
theta-token
Theta Network (THETA) $ 2.78
maker
Maker (MKR) $ 2,879.40
pepe
Pepe (PEPE) $ 0.000006
mantle
Mantle (MNT) $ 0.805829
monero
Monero (XMR) $ 137.55
fantom
Fantom (FTM) $ 0.891062
fetch-ai
Fetch.ai (FET) $ 2.36
thorchain
THORChain (RUNE) $ 7.74
dogwifcoin
dogwifhat (WIF) $ 2.30
lido-dao
Lido DAO (LDO) $ 2.42
sei-network
Sei (SEI) $ 0.796225
celestia
Celestia (TIA) $ 12.05
arweave
Arweave (AR) $ 31.11
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,740.63
gala
GALA (GALA) $ 0.054653
algorand
Algorand (ALGO) $ 0.237483
flow
Flow (FLOW) $ 1.25
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,474.07
sui
Sui (SUI) $ 1.48
floki
FLOKI (FLOKI) $ 0.000181
quant-network
Quant (QNT) $ 118.43
jupiter-exchange-solana
Jupiter (JUP) $ 1.28
aave
Aave (AAVE) $ 116.43
beam-2
Beam (BEAM) $ 0.031075
elrond-erd-2
MultiversX (EGLD) $ 57.76
bitcoin-sv
Bitcoin SV (BSV) $ 76.77
dydx-chain
dYdX (DYDX) $ 3.19
bonk
Bonk (BONK) $ 0.000022
conflux-token
Conflux (CFX) $ 0.365097
pyth-network
Pyth Network (PYTH) $ 0.915269
axie-infinity
Axie Infinity (AXS) $ 9.60
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,368.81
starknet
Starknet (STRK) $ 1.83
wrapped-eeth
Wrapped eETH (WEETH) $ 3,496.15
the-sandbox
The Sandbox (SAND) $ 0.586713
bittorrent
BitTorrent (BTT) $ 0.000001
kucoin-shares
KuCoin (KCS) $ 13.39
ordinals
ORDI (ORDI) $ 60.32
akash-network
Akash Network (AKT) $ 5.49
worldcoin-wld
Worldcoin (WLD) $ 8.06
mina-protocol
Mina Protocol (MINA) $ 1.17
singularitynet
SingularityNET (AGIX) $ 0.969374
havven
Synthetix Network (SNX) $ 3.72
tokenize-xchange
Tokenize Xchange (TKX) $ 15.15
bitget-token
Bitget Token (BGB) $ 0.859918
tezos
Tezos (XTZ) $ 1.21
msol
Marinade staked SOL (MSOL) $ 218.15
apecoin
ApeCoin (APE) $ 1.88
whitebit
WhiteBIT Coin (WBT) $ 8.02
ethena-usde
Ethena USDe (USDE) $ 0.999028
ribbon-finance
Ribbon Finance (RBN) $ 1.24
true-usd
TrueUSD (TUSD) $ 0.998836
flare-networks
Flare (FLR) $ 0.030521
chiliz
Chiliz (CHZ) $ 0.124749
decentraland
Decentraland (MANA) $ 0.586289
helium
Helium (HNT) $ 6.70