Bitcoin Hash Rate Increases Reach Lifetime High, Difficulty Expected to Jump Next Week CryptoGlobe

Bitcoin’s hashrate hit a lifetime high over the weekend reaching 271.19 exahash per second (EH/s) on Saturday, April 23 at a block height of 733,197. Currently, computing power is coasting at 233.81 EH/s with network difficulty change expected in three days on April 27.

Bitcoin hashrate hits all-time high, hashing power up 55% since January

The processing power that confirms transactions and secures the Bitcoin (BTC) network hit an all-time high (ATH) on Saturday, April 23. The hashrate reached 271.19 EH/s, or approximately 271,190 petahash per second (PH/s) or 271,190,000,000,000,000,000 hashes per second (H/s).

Bitcoin’s hash power has never been higher than this point in history and since block height 717,696 or January 8, 2022, the hashrate record is a 55.48% increase since then. The processing power of the Bitcoin network reached an ATH of 246 EH/s on February 12, before the all-time high recorded on Saturday.

Bitcoin Hashrate Surges Reach Lifetime High, Difficulty Expected to Jump Next Week
Bitcoin hash rate according to on April 24, 2022. The network hit an all-time high of 271.19 exahash per second (EH/s) on Saturday, April 23 at a block height of 733,197.

Following a downward difficulty adjustment (DAA) algorithm change at block height 731,808, which saw the difficulty drop by 1.26%, the network should see an increase in DAA in approximately three days . Since the hashrate operates at such high speeds, the DAA should increase by 3.21%.

If the estimated DAA increase of 3.21% materializes, the Bitcoin network difficulty will rise from the current 28.23 trillion to a lifetime high of 29.13 trillion. Currently, Sunday afternoon (ET), a block grant reward worth 6.25 BTC is currently valued at $247,063 using today’s Bitcoin exchange rates.

While bitcoin hash power mined an ATH on Saturday, for the past three days the top mining pool was Foundry USA, capturing 22.55% of the global hashrate. Statistics show that Foundry’s 47.89 PE/s allowed the pool to find 106 of the last 470 blocks found by 13 pools. The second largest bitcoin miner below Foundry USA was Binance Pool with 12.98% or 27.56 EH/s hash power.

While stats show bitcoin price didn’t have the best first quarter of 2022, the hashrate which has grown over 55% since then is quite an achievement. The metrics indicate that the current value of BTC is profitable to mine using most ASIC devices with 25 TH/s or more. At press time, the Bitmain Antminer S19 Pro (110 TH/s) mining rig with electricity costs of $0.12 per kilowatt hour will see an estimated profit of $10.23 per day.

Keywords in this story

12 known mining pools, 271 EH/s, 271 exahash, Binance Pool, Bitcoin hashrate, Bitcoin Miners, BTC hashpower, BTC Hashrate, BTC miners, difficulty, Exahash, F2Pool, Foundry USA, Global Hashrate, Hashpower, Hashrate, Hashrate High , Miners, Mining Difficulty, Mining Pools, Over 200 PE/s, pool distribution, Poolin, Price

What do you think of Bitcoin’s hashrate hitting a lifetime high of 271 EH/s on Saturday? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for News about disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

About Catherine Wilson

Check Also

Bitcoin Mining Removes Methane From The Atmosphere CryptoGlobe

Watch this episode on YouTube Listen to the episode here: On this week’s episode of …