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Bitcoin’s Hashrate Hits an All-Time High Nearing 300 Exahash per Second

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While bitcoin mining difficulty was expected to drop two days ago on June 8, it instead increased by 1.29% on Wednesday. On the same day, at a block height of 739,928, Bitcoin’s hash rate reached its all-time high (ATH), reaching 292.02 exahashes per second (EH/s).

The Bitcoin blockchain is protected by nearly three hundred quintillion hashes per second.

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The Bitcoin network has never been more powerful this week as the protocol’s processing power hit an all-time high on Wednesday. In fact, at 292.02 EG/s, the network approached the 300 EG/s region for the first time.

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The last ATH hashrate occurred on May 2, 2022 at a Bitcoin block height of 734,577 when it hit 275.01 EH/s. The jump to 292.02 EH/s 37 days later was about 6.18% higher than ATH on May 2nd. Wednesday’s ATH was just 2.73% from reaching the 300 EH/s range, or 0.3 zettahash per second (ZH/s).

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Bitcoin hashrate hits all-time high, approaching 300 Exahash per second

The hash rate was so fast that the Difficulty Adjustment Algorithm (DAA), which should have gone down, increased by 1.29% instead. Three days ago, on June 7, difficulty was expected to drop by 0.51%.

Despite a 1.29% increase, the difficulty is still lower than the ATH of 31.25 trillion registered on May 10, 2022. Network difficulty is currently at 30.28 trillion and is expected to remain at that level until the June 21 retargeting date. about ten days or about 1600 blocks before the next DAA change.

At 292 exahashes per second, two hundred ninety-two quintillion hashes per second (H/s) were allocated to secure the Bitcoin blockchain on Wednesday. Three-day statistics show that Foundry USA was the leading mining pool with fifty-two quintillion four hundred and twenty quadrillion H/s or 52.42 EH/s.

Foundry found 109 Bitcoin block rewards out of 475 blocks mined in the last 72 hours. Antpool’s hashrate hovers around 35.11 EH/s, or thirty-five quintillion one hundred and ten quadrillion H/s. Antpool found 73 blocks out of 475 blocks found, while F2pool recorded 32 EH/s and found 67 blocks in the last three days.

The current hash rates and the speed required to mine the next 1600 blocks will determine the next difficulty change. Currently, using today’s numbers, difficulty is expected to increase by 1.52% from where it is today, but that estimate is likely to change.

What do you think about Bitcoin’s hash rate hitting its all-time high of 292 exahash per second? Let us know what you think about it in the comments section below.



Credit : news.bitcoin.com

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