Despite the sharp rise in network difficulty, Bitcoin’s hashrate has shown unwavering stability, consistently exceeding the 400 exahash per second (EH/s) benchmark. Presently, 43 mining pools are contributing their computational power to the Bitcoin blockchain. Notably, Foundry USA’s mining pool has been the dominant force this past month, capturing 29.36% of the overall hashrate during the last 30 days.
Bitcoin Miners Maintain Robust Hashrate Amidst Escalating Network Difficulty
As the upcoming difficulty adjustment scheduled for October 3, 2023, approaches, Bitcoin miners appear unfazed by the ascent to a formidable 57.12 trillion in network complexity. Seven-day average metrics reveal that the hashrate has sustained a sturdy average of 417 EH/s, particularly after hitting an all-time high of 433 EH/s on September 19 with respect to the seven-day mean.
The seven-day average hashrate was reported to be 417 EH/s as of September 29, 2023.
On that same day, September 29, a total of 43 mining pools were directing their SHA256 computational power toward the Bitcoin network. Although Bitcoin’s hash price index dipped below the $60 per petahash daily rate just 48 hours prior, it experienced an upturn, currently standing at $61.32 per petahash per day.
The hash price as of September 29, 2023, was obtained via hashrateindex.com.
Over the past 30 days, Bitcoin miners have successfully mined 4,414 blocks, of which Foundry USA has been credited with 1,296. In terms of total hashrate contributed during this period, Foundry USA remains preeminent, accounting for 29.36%.
Antpool has secured its position as the second most influential entity among mining pools, having mined 1,043 blocks over the past month, which translates to 23.63% of the aggregated 30-day hashrate. They are followed by F2pool, Viabtc, and Binance Pool in the rankings.
Collectively, Foundry USA and Antpool were responsible for 52.99% of the hashrate over the past month, while the next three leading pools contributed an additional 30.77% to the 30-day total. The recent adjustments in network difficulty have not deterred miner participation, and forecasts indicate a likely increase for the forthcoming October 3 recalibration.
We invite you to share your insights and analyses on the resilience of the Bitcoin hashrate, even as network difficulty reaches new heights. Your expertise is highly valued, and we encourage you to comment below.
Frequently Asked Questions (FAQs) about Bitcoin Hashrate Stability
What is the main focus of the article?
The main focus of the article is on the stability of Bitcoin’s hashrate, which has remained above the 400 EH/s benchmark even amid rising network difficulty. It also highlights the contributions of key mining pools like Foundry USA and Antpool in this context.
What is the significance of the 400 EH/s benchmark in Bitcoin’s hashrate?
The 400 EH/s benchmark is significant because it demonstrates a high level of computational power and security within the Bitcoin network. A hashrate above this level indicates a robust and resilient network, less susceptible to attacks and more capable of handling higher transaction volumes.
How is Foundry USA relevant to this discussion?
Foundry USA is a major mining pool that has emerged as the dominant contributor to the Bitcoin network in the past month. It accounts for 29.36% of the overall hashrate, thereby playing a significant role in maintaining the network’s stability and security.
What is the upcoming difficulty adjustment slated for October 3, 2023?
The article mentions that the Bitcoin network is scheduled for a difficulty adjustment on October 3, 2023. This adjustment is significant because it will recalibrate the network’s complexity, potentially impacting miner profitability and network security. Despite this, miners appear unfazed, as indicated by the stable hashrate.
How have recent changes in Bitcoin’s hash price index been portrayed?
The Bitcoin hash price index recently dipped below $60 per petahash per day but has since recovered to $61.32 per petahash per day. This is indicative of the hash price’s volatility and its subsequent stabilization, in line with Bitcoin’s market price.
What are the contributions of other major mining pools like Antpool, F2pool, Viabtc, and Binance Pool?
Antpool is the second leading mining pool, contributing 23.63% of the 30-day hashrate aggregate. It is followed by F2pool, Viabtc, and Binance Pool. Together with Foundry USA, these pools account for a significant portion of the network’s total hashrate, ensuring its overall stability and security.
How does the article conclude on the topic of network difficulty and miner participation?
The article concludes by stating that despite recent adjustments in network difficulty, miner participation remains strong. Forecasts indicate that the network is likely to experience a further rise in difficulty levels with the impending October 3 recalibration, yet the hashrate remains resilient.
What audience is this article intended for?
The article is tailored for serious investors, financial analysts, and anyone interested in the intricate dynamics of the Bitcoin network, particularly its hashrate and mining activities.
More about Bitcoin Hashrate Stability
- Bitcoin Network Statistics
- Foundry USA Mining Pool
- Hashrate Index Source
- Bitcoin Difficulty Adjustments
- Overview of Mining Pools
- Bitcoin Market Price Trends
- Bitcoin Security and Hashrate