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Bitcoin’s Hashrate Records an All-Time High, Hashpower Increased 55% Higher Since January
On Saturday, April 23, the processing power that processes transactions and secures the Bitcoin (BTC) network achieved an all-time high (ATH). The hashrate reached 271.19 EH/s, or 271,190 petahash per second (PH/s) or 271,190,000,000,000,000 hashes per second (H/s).
Bitcoin's hashpower has never been greater, and since block height 717,696 on January 8, 2022, the hashrate has increased by 55.48 percent. Prior to the all-time high set on Saturday, the Bitcoin network's processing power reached an ATH of 246 EH/s on February 12.
The network is projected to witness a DAA rise in about three days following a downward difficulty adjustment algorithm (DAA) update at block height 731,808, which saw the difficulty reduce by 1.26 percent. Because the hashrate is increasing so quickly, the DAA is predicted to rise by 3.21 percent.
If the 3.21 percent DAA increase is realized, Bitcoin's network difficulty will go from 28.23 trillion to 29.13 trillion, a new lifetime high. Using today's bitcoin exchange rates, a block subsidy award worth 6.25 BTC is presently priced at $247,063 on Sunday afternoon (ET).
The leading mining pool over the previous three days was Foundry USA, which captured 22.55 percent of the global hashrate as Bitcoin's hashpower reached an all-time high on Saturday. According to statistics, Foundry's 47.89 EH/s has allowed the pool to locate 106 of the 470 blocks found by 13 pools in the past. Binance Pool was the second-largest bitcoin miner after Foundry USA, with 12.98 percent or 27.56 EH/s of hashpower.
While statistics reveal that bitcoin's price did not have the best first quarter in 2022, the hashrate has increased by more than 55 percent since then. According to metrics, mining BTC at its present value is lucrative with most ASIC devices capable of 25 TH/s or more. With $0.12 per kilowatt-hour in electricity expenditures, the Bitmain Antminer S19 Pro (110 TH/s) mining setup will make an expected profit of $10.23 per day as of press time.
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