Bitcoin miners take a break every week or so. We can take, on or around December 5, 2022, because we expect a significant reduction in the next difficulty retarget, according to estimates, the next difficulty retarget will drop from 6.13% to 10% There is likely to be. Now it looks like the change in difficulty could be the biggest drop in 2022, surpassing his 5.01% decline recorded on July 21st.
the Cards
When Bitcoin’s difficulty last changed on November 20, 2022 at block height 764,064, it rose only 0.51% on the day did not do it. However, this increase has pushed the network’s difficulty up to its lifetime high of 36.95 trillion. Since then, the network’s average hashrate over the past week has been around 249.1 exahashes per second (EH/s).
The Bitcoin network’s average block time was also slower than usual, running between 10.2 minutes and 11.06 minutes on Monday evening (ET). increase. Block intervals have increased significantly since the difficulty change on November 20th. Prior to that date, block times averaged less than 10 minutes since September 29th.
suggests that the 2,016 blocks mined before the next retarget will be slower than the average of 2 weeks. As of this writing, stats say retargeting could drop to as low as 10% on Dec 5, with Btc.com’s metric estimating a drop of around 6.13% indicates that the
Both estimates surpass the largest decline ever recorded by the Bitcoin network on July 21st of around -5.01%. Miners are currently facing an all-time high in difficulty, with the price of Bitcoin (BTC) 76% below its all-time high ($69,000) set on November 10, 2021 It’s getting cheaper.
Mining from macromicro.me Insight fromBTCproduction cost ($18,360) is currently spot market value ($16,250). Additionally,Glassnode market intelligence shows that Bitcoin miners are exploiting their assets.
On-chain analytics firm Glassnode tweeted about the bitcoin mining sector and industry being “under immense financial stress”,announced the mining report issued by Cryptoslate.
“What we found is that [Bitcoin] miners distribute about 135% of the coins mined,” he said Glassnode. “This means miners are immersed in a strong treasury of 78,000 [bitcoins].” Revealed that it is selling BTC.
It’s 7:30 PM as I write this article. (ET), Foundry USA’s three-day hashrate is around 60.66 EH/s, which is his 25.45% of the global hashrate. In three days, the largest mining pool, Foundry, mined 98 BTC blocks out of 385 blocks discovered by all miners.
Foundry’s hashrate is followed by Antpool, F2pool, Binance Pool and Viabtc respectively. Across all five pools over the last three days, the top five mining pools were able to discover 315 blocks out of a total of 385.
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