Bitcoin’s hashrate has once again reached an all-time high (ATH) this year, as the network’s processing power reached 275.01 exahash per second (EH/s) on May 2, 2022. The recent ATH follows a significant difficulty jump on April 27, and bitcoin’s value lost 6.2% against the U.S. dollar over the last two weeks.
Bitcoin Hashrate Taps 275 Exahash
Just recently Bitcoin mining difficulty hit an ATH at 29.79 trillion and it is currently the hardest ever to find a BTC block reward. On April 27, after rolling at 28.2 trillion for two weeks prior, the network’s difficulty jumped 5.56% higher.
Bitcoin miners have continued to keep the high-speed tempo going despite the difficulty rising. Moreover, over the last two weeks, BTC has shed 6.2% in value against the U.S. dollar. The price drop has also made it less profitable for bitcoin miners during the two-week downturn.
Despite these two setbacks, bitcoin miners have pushed the hashrate to a new high in terms of computing power. The hashrate hit an all-time high of 275.01 PE/s on May 2, 2022, at a block height of 734,577.
The network previously reached an ATH 1,380 blocks prior to the 275 EH/s high at block height 733,197, on April 23. At that time, the ATH recorded was approximately 271.19 EH/s. Data shows that since block height 733,197, the overall hashrate increased 1.40% in seven days.
Next-gen miners soon to be deployed
The seven-day stats indicate that Foundry USA was the top mining pool after capturing 233 of the 1,071 BTC blocks found last week. Foundry USA holds 21.76% of the hash power of the network with an average of 49.29 PE/s over the last seven days. The second largest mining pool last week was Antpool, as it captured 145 block grant awards last week.
Antpool has held 13.54% of the global hashrate in the one-week timeframe with 30.68 EH/s. Today, 12 known pools are dedicating hashpower to the BTC network and 0.93% of the global hashrate, or 2.12 EH/s, is operated by unknown bitcoin miners.
With Bitcoin’s hashrate hitting an all-time high before Bitcoin mining rig makers shipped the latest next-gen machines, the hashrate could very well go much higher from here. Next-gen miners from Bitmain and Microbt, which contain significantly more hashrate, are expected to ship next month.
Moreover, Bitmain’s hydro bitcoin mining rig, the Antminer S19 Pro+ Hyd., commands 198 TH/s and has been released this month. Depending on lead times, miners could be deploying these high powered, next-generation miners and upping the network’s overall hashrate a great deal.
