{"id":20571,"date":"2023-05-04T18:46:23","date_gmt":"2023-05-04T18:46:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miners-breathe-a-sigh-of-relief-as-difficulty-drops-1-45-after-five-consecutive-increases-mining-bitcoin-news\/"},"modified":"2023-05-04T18:46:23","modified_gmt":"2023-05-04T18:46:23","slug":"bitcoin-miners-breathe-a-sigh-of-relief-as-difficulty-drops-1-45-after-five-consecutive-increases-mining-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-miners-breathe-a-sigh-of-relief-as-difficulty-drops-1-45-after-five-consecutive-increases-mining-bitcoin-news\/","title":{"rendered":"Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases \u2013 Mining Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin\u2019s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks.<\/strong><\/p>\n

Bitcoin Difficulty Takes a Dip After Five Straight Increases<\/h2>\n

Bitcoin\u2019s difficulty level finally dropped on May 4, 2023, after increasing five times since the February 24 increase of 9.95%. The five difficulty increases combined equated to a 22.62% increase, and the latest drop brings it down 1.45% lower<\/a>. The change occurred at Bitcoin block height 788,256. At the time of writing, the network\u2019s hashrate is 355.90 exahash per second (EH\/s).<\/p>\n

\"Bitcoin<\/p>\n

Just two days ago, the Bitcoin network hit a major milestone as its hashrate soared to an all-time high<\/a> of 491 EH\/s at block height 787,895. But with the next difficulty adjustment just around the corner on May 18, 2023, and less than 2,000 blocks away, miners are bracing themselves for what\u2019s to come. While the recent downward difficulty drop has given them some much-needed relief, current block times are still hovering above the ten-minute average. In fact, the last block interval was a lengthy ten minutes and 49 seconds.<\/p>\n

In addition, the Bitcoin network is currently grappling with a mempool with over 200,000 unconfirmed transactions<\/a> waiting to be processed by miners. To expedite the process, users are shelling out a high-priority fee of $5.05 per transaction, while a medium-priority transfer will set them back $4.61. As for the top mining pools<\/a> on May 4, Foundry USA takes the cake with 96.62 EH\/s of hashpower, accounting for 27.17% of Bitcoin\u2019s total hashrate. Trailing behind are Antpool (80.38 EH\/s), F2pool (48.72 EH\/s), Binance Pool (38.16 EH\/s), and Viabtc (27.61 EH\/s).<\/p>\n

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1.45% down<\/a>, Antpool<\/a>, Binance Pool<\/a>, Bitcoin<\/a>, Block Height<\/a>, Cryptocurrency<\/a>, difficulty<\/a>, difficulty metric<\/a>, F2Pool<\/a>, Foundry USA<\/a>, Hashpower<\/a>, Hashrate<\/a>, high priority fees<\/a>, Mempool<\/a>, mining<\/a>, Mining Difficulty<\/a>, network<\/a>, Unconfirmed Transactions<\/a>, ViaBTC<\/a><\/div>\n<\/div>\n

What do you think the future holds for Bitcoin\u2019s difficulty level? Will it continue to rise steadily, or can we expect more dips in the coming months? Share your thoughts 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 7,000 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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