After hitting an all-time high on June 8, Bitcoin’s hash rate fell to a low of 182 exahashes per second (EH/s) during Bitcoin’s recent price decline on June 12-13. While Bitcoin’s USD value remains below the $23,000 zone, Bitcoin’s hashrate has managed to climb back above the 200 EH/s region.

Hashrate falls to 182 EH/s and bounces back above 200 EH/s, over 741 million confirmed Bitcoin transactions

Just under a week ago, Bitcoin’s hash rate hit an all-time high of 292.02 EH/s with a block height of 739,928 and has since fallen to just above the 200 EH/s zone. Currently, the hashrate rolls in at 232.63 EH/s on Tuesday, June 14, 2022.

For a brief moment during the crypto market bloodbath on June 12-13, the network’s processing power slipped from 231 EH/s to 182 EH/s. The network saw a 21% drop in hashrate during this period, but quickly recovered.

Bitcoin hashrate briefly slips below 200 EH/S during market rout, with less than 100,000 blocks remaining until halving

At current speeds, the network’s mining difficulty is expected to increase by 0.67% to 30.49 trillion. There is still a full week before the Difficulty Adjustment Algorithm (DAA) changes, meaning current estimates could shift. The DAA change is expected to take place on or around June 22, 2022, or 1,050 block rewards until postponement.

Additionally, there are less than 100,000 block rewards left until the next halving, or roughly 99,214 blocks at the time of writing. The block subsidy changes after those blocks are mined, from 6.25 bitcoins per block to 3.125 bitcoins per block after the halving.

Currently, Foundry USA is the leading bitcoin mining pool today with 22.52% of the global hashrate after finding 93 of the 413 blocks discovered over the past three days. Poolin is the second largest mining pool with 13.80% of the global hashrate.

12 well-known mining pools are currently mining BTC, while 0.73% of the global hashrate, or 1.62 EH/s, is powered by stealth miners. Unknown miners have found three of the 413 blocks in the last three days.

In the last 30 days, miners have confirmed 7,692,044 BTC transactions and BTC has seen 741,438,457 confirmed transactions over its lifetime. There are currently 15,679 reachable nodes and 8,290 Tor nodes.

Miners and non-mining nodes backing the BTC blockchain are required to store 467.6 GB of data at the time of writing. At the time of writing, 19,067,210.93 BTC have been circulated and there is 1,932,574.98 BTC yet to be discovered by miners.

tags in this story

1600 Blocks, 292.02 Exahash, Antpool, Bitcoin Block Rewards, Bitcoin Blocks, Bitcoins, Block Rewards, Blocks, BTC Hashrate, Processing Power, Difficulty, Difficulty Retargeting, Exahash, Foundry USA, Hashpower, Hashrate, Hashrate ATH, Mining, Bitcoin Mining, Mining BTC, Proof of Work (PoW)

What are your thoughts on the current state of the Bitcoin network hashrate and mining pools? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for News about today’s emerging disruptive protocols.

photo credit: Shutterstock, Pixabay, WikiCommons

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