- Oct 25, 2021
- Reaction score
Bitcoin Hashrate Slides Following Price Drop — Mining Difficulty Decrease Expected
The fiat value of bitcoin (
The slow down is causing the network difficulty to stay lower than usual and this Sunday it’s expected to drop for the first time since July 17, 2021. After the mid-July difficulty change,
It is now 52.48% harder to mine
There’s also been a lot of changes in terms of hashrate distribution among mining pools. Bitmain’s Antpool is the largest bitcoin miner today with 16.79% of the network or 26.15 EH/s in hashrate. Foundry USA is the second-largest bitcoin mining pool with 16.55% of the network’s hashpower, or 25.77 EH/s. While F2pool holds the third position with 15.33% of the hashpower, or 23.87 EH/s, unknown hashrate or stealth miners command 13.14% of the network’s hashpower or just over 20 EH/s.
Bitcoin’s mining difficulty recorded an ATH on May 13, 2021, when it reached 25.05 trillion. Today, the network difficulty is 22.67 trillion and the decrease should bring it down to 22.59 trillion by Sunday, November 28, 2021. The 0.38% change is minuscule compared to most difficulty shifts but it will keep the difficulty lower for another two weeks which is helpful to miners while the price of
What do you think about the upcoming difficulty decrease and the recent hashrate action? Let us know what you think about this subject in the comments section below.