On February 12, 2023, the difficulty in mining Bitcoin decreased by 0.49%, after reaching a record high of 39.35 trillion over the last two weeks (2,016 blocks). This decrease gives miners a short break from the 14.94% surge that occurred throughout the previous month.
Bitcoin Mining Difficulty Declines by 0.49%
As of now, Bitcoin’s hashrate is at 289.14 exahash per second (EH/s) after a slight 0.49% decrease in difficulty at block height 776,160. The network difficulty has been about 39,350,942,467,772 hashes over the previous 2,016 blocks or two weeks. With the recently noted 0.49% decrease in difficulty, the network’s complexity will be set to 39.16 trillion hashes for the coming two weeks.
Bitcoin’s difficulty changed on Feb. 12, 2023, at block height 776,160. The downward drop occurred at 7:52 a.m. (UTC).
The recent difficulty adjustment resulted in mined blocks occurring at intervals ranging from 10 minutes, 7 seconds to 11 minutes, 14 seconds. Bitcoin’s next difficulty readjustment is planned for approximately February 26th, 2023. The mean hash rate over the past 2,016 blocks was nearly 280.6 exahash per second (EH/s), and the average period of time between each block was 10 minutes, 2 seconds.
Top Five Bitcoin Mining Pools Preserve Dominance Over Global Hashrate
Over the last three days, Foundry USA has been leading the mining pool with 33.26% of total network hashrate, equivalent to 95.89 exahash per second (EH/s). Following Foundry is Antpool with 15.97%, then Binance Pool with 15.54%. F2pool and Viabtc come in fourth and fifth place, respectively, at 14.22% and 9.41%. There are 12 known mining pools all together, but the top five control 88.4% of global hashrate combined.
Three-day bitcoin mining pool hashrate distribution on Feb. 12, 2023.
Macromicro.me has determined that the cost of creating a bitcoin (BTC) is greater than its present price in the spot market. Their calculation is based on information regarding power utilization and daily bitcoin distribution from Cambridge University. Currently, it costs an average of $24,119 to generate one bitcoin while its spot market worth is about $21,901 for each unit.
