{"id":17934,"date":"2023-02-21T23:43:29","date_gmt":"2023-02-21T23:43:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-network-difficulty-expected-to-see-largest-increase-of-the-year-amid-high-hashrate-shorter-block-times-mining-bitcoin-news\/"},"modified":"2023-02-21T23:43:29","modified_gmt":"2023-02-21T23:43:29","slug":"bitcoin-network-difficulty-expected-to-see-largest-increase-of-the-year-amid-high-hashrate-shorter-block-times-mining-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-network-difficulty-expected-to-see-largest-increase-of-the-year-amid-high-hashrate-shorter-block-times-mining-bitcoin-news\/","title":{"rendered":"Bitcoin Network Difficulty Expected to See Largest Increase of the Year Amid High Hashrate, Shorter Block Times \u2013 Mining Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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After a small decrease of 0.49% on Feb. 12, 2023, Bitcoin\u2019s network difficulty is expected to experience a significant increase in three days on Feb. 24. Estimates indicate the difficulty could see the largest rise of the year, surpassing the 10.26% increase that occurred on Jan. 15 at block height 772,128.<\/strong><\/p>\n

Next Bitcoin Difficulty Change Estimated to Jump 10.78% to 11.5% Higher<\/h2>\n

In 2022, Bitcoin\u2019s hashrate remained above the 200-exahash-per-second (EH\/s) range. However, in 2023, 300 EH\/s seems to be the new norm. According to statistics, over the last 2,016 blocks, Bitcoin\u2019s hashrate has averaged around 310.5 EH\/s. Additionally, bitcoin block times have ranged from 8 minutes and 55 seconds to 8 minutes and 68 seconds, which is faster than the 10-minute average. The high hashrate and quicker block times indicate a significant increase in difficulty, which is expected to occur on Feb. 24.<\/p>\n

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Statistics indicate that the upcoming difficulty adjustment, scheduled for Friday, will be the largest of the year, surpassing the previous record set on Jan. 15. The estimated increase for the Feb. 24 adjustment is expected to be between 10.78%<\/a> and 11.5%<\/a>. The current difficulty is approximately 39.16 trillion hashes, and the next difficulty adjustment is likely to push it above 40 trillion. A 10.78% increase would result in a difficulty rating of approximately 43.35 trillion hashes. Regardless of the final outcome, an increase in difficulty will make it more challenging for bitcoin miners to discover new blocks.<\/p>\n

At the time of writing, the mining pool Foundry USA commands 33.33%<\/a> of the network hashrate, or 105.37 EH\/s. Antpool accounts for around 18.66% of the global hashrate, dedicating 58.98 EH\/s to the Bitcoin blockchain. Together, these two pools captured more than 51% of the pie comprising 13 known pools and 11.93 EH\/s of unknown hashpower. Following Foundry and Antpool are F2Pool, Binance Pool, and Viabtc, which collectively control 33.54% of the global hashrate. These top five pools contribute a combined 84.54% of the total hashrate that provides security to the Bitcoin blockchain.<\/p>\n

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adjustment<\/a>, Antpool<\/a>, Assets<\/a>, Binance Pool<\/a>, Bitcoin<\/a>, Bitcoin mining<\/a>, Blockchain<\/a>, Blocks<\/a>, BTC Mining<\/a>, Cryptocurrency<\/a>, difficulty<\/a>, Digital<\/a>, Discovery<\/a>, efficiency<\/a>, estimate<\/a>, Exahash<\/a>, F2Pool<\/a>, Foundry USA<\/a>, Global<\/a>, Hashes<\/a>, Hashrate<\/a>, increase<\/a>, increase difficulty<\/a>, investment<\/a>, Miners<\/a>, mining<\/a>, network<\/a>, Pools<\/a>, retarget<\/a>, Security<\/a>, speed<\/a>, technology<\/a>, ViaBTC<\/a><\/div>\n<\/div>\n

What do you think about the expected significant increase in Bitcoin\u2019s network difficulty? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. 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 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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