Bitcoin's hashrate has soared high again as processing power hit another lifetime high, reaching 219.68 exahash per second (EH/s) on January 15, 2022. The new record follows the previous all-time high (ATH) on the first day of the year, when the network's hashrate reached 219.5 EH/s. Bitcoin's Hashrate Reaches a Milestone, Analyst Discusses Miner Surrender, Estimated Bitcoin Production Cost Bitcoin miners are devoting a lot of their time to the SHA256 computing power of the Bitcoin network on January 15th, when the network quickly reached an ATH just after 12:00 p.m. (EST). The record was just a hair above the previous ATH on January 1st at 219.5 EH/s when today's hashrate reached...
Bitcoin's hashrate has soared high again as processing power hit another lifetime high, reaching 219.68 exahash per second (EH/s) on January 15, 2022. The new record follows the previous all-time high (ATH) on the first day of the year, when the network's hashrate reached 219.5 EH/s.
Bitcoin miners devote a lot of time to SHA256 computing power Bitcoin network on January 15th, when the network quickly reached an ATH just after 12:00 p.m. (EST). The record was just a hair above that previous ATH on January 1st at 219.5 EH/s as today's hashrate reached a maximum of 219.68 EH/s. At the time of writing, the network's hashpower is 199 EH/s.
The increase follows the recent drop in hashrate that occurred during it Citizens of Kazakhstan were outraged against the government and the internet was temporarily shut down in the country. It has been widely speculated that the hashrate has dropped by 15% because of the problems in Kazakhstan, but miners in the region claims this was not the case. Data specified back then that Bitcoin The drop in price and increase in mining difficulty contributed to the 15 percent loss in hashrate.
In addition to the price drop and difficulty increase, estimates indicate the production cost of mining just one Bitcoin Today it’s $34,000. Twitter account and analyst Venture founder recently stated that the manufacturing cost is around 20% below the current value. “The worst dumps Bitcoin has ever had were due to miner capitulation (December 2018, March 2020), when Bitcoin fell below production costs, miner capitulation looms,” said the analyst tweeted. Venture founder added:
[Bitcoin] drohte im Mai bei 30.000 $ die Miner zu kapitulieren. Die aktuellen Produktionskosten liegen bei 34.000 $, 20 % darunter [the] derzeitiger Preis.
While it was expected two weeks ago, Bitcoin's mining difficulty is likely to reach an all-time high during the next epoch change. The next difficulty change is expected in just over 5 days and estimates suggest it could rise 3.83% higher than today. If it rises to this point and reaches 25.31 trillion, Bitcoin's mining difficulty will reach another lifetime high.
The last mining difficulty ATH of 25 trillion was on May 13, 2021, and four difficulty reductions – including the largest epoch reduction ever – have significantly reduced the difficulty. Since then and after July 17th, there have been a total of 12 difficulty increases and only one decrease.
As of Saturday, the largest Bitcoin mining pool is F2pool with 15.57% or 28.88 EH/s and the second largest pool is Foundry USA with 15.55% or 28.80 EH/s. Both pools have bounced back and forth in recent weeks regarding Bitcoin's largest mining pool.
What do you think about the recent hashrate high recorded on January 15, 2022 and the upcoming mining difficulty ATH that is expected to occur in five days? Let us know your thoughts on this topic in the comments section below.
Photo credit: Shutterstock, Pixabay, WikiCommons
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