This weekend, Bitcoin’s mining difficulty has risen 3.44% higher than the height miners dealt with during the past two weeks or the last 2,016 blocks. The network difficulty hit a new ATH of 36.84 trillion after yesterday’s change. This means that not only is it 3.44% harder to find a bitcoin block subsidy, the network’s mining difficulty has also reached another all-time high (ATH) by tapping 36.84 trillion.
Sunday’s spike follows a 13.55% increase in Bitcoin’s difficulty recorded on October 10, 2022, at block height 758,016, which is the largest Bitcoin difficulty in 2022, comes as BTC’s total hashrate reaches ATH (325.11 EH/s) on October 11, 2022, at block height 758,138.
Currently, BTC hashrate is at 260-275 EH/s. The reason for the spike in mining difficulty on Sunday is that 2,016 blocks were mined faster than the two-week average. Before the change, the average BTC block time on Sunday (October 23) was around 8:79 minutes.
Currently, the top three bitcoin mining pools are Foundry USA, Antpool, and F2pool accounting for 60.36% of the global hashrate on Sunday. In the past three days, 444 BTC blocks have been mined and Foundry has discovered 113 of them. Antpool captured 90 blocks and F2pool found 65 blocks.
At the time of this writing, the block subsidy is $122,250, and the next mining difficulty change target is expected to be due around Nov. There are about 79,900 blocks left until the block reward is halved in the next halving which will happen around May 2024.
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