Difficulty Adjustment #322 UTC 23:55:33, Saturday, September 19th, 2020
Block 649,152 Difficulty: 19.31 T + 11.35% Avg Network Hashrate: 138 EH/s Avg Interval: 539 seconds Difficulty Period: 12.55 days
$0.07 per TH/d Poolin Hashrate 21.16 EH/s Poolin Workers: 748,096
Bitcoin’s network hashrate grew over 10% in the last difficulty period, which began with 124 EH/s and set a new all time high of 146 EH/s on Friday, September 18th, before pulling back to 138 EH/s.
On the sixth month time frame below you can see the run up that began on September 5th leading to the current breakout to all-time highs. The sixth month time-frame shows an upward slope in hashrate since the halving in mid-May consolidating with shorter/weaker downswings (capitulations).
Bitcoin’s previous difficulty adjustment was 12.55 days ago on September 7th (block height 647,136) where the difficulty decreased by 1.21% from 17.56 T to 17.35 T. Two days prior to the last adjustment the hashrate had already broken out leading to the current runup and the difficulty increase of 11.35% to a new all time high of 19.31 T.
Looking at the average block time interval since the last difficulty adjustment, the average block time has dived below the 600 second benchmark, reaching an average block time of 539 seconds, 10% under the ten-minutes target.
After breaking down from yearly highs, bitcoin has consolidated between ten and eleven thousand dollars, and is currently holding at 10K USD.
The increase in network difficulty with a price range bound between ten and eleven thousand dollars, has further compressed mining revenue (a.k.a. the hash price) from $0.08 to $0.07 USD per Terahash per day, which continues to squeeze out older generation miners and higher electricity prices.
Poolin has recovered the hashrate that was lost last month, and is now pushing new all time highs with 21 EH/s.
Stay tuned for details on upcoming conferences in Berlin and Chengdu, which are both slated for the end of September.
You can find our mining pool, block explorer, wallet, and tools at poolin.com