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Bitcoin's Hashrate Holds Steady Above 400 EH/s Amid Sky-High Network Difficulty

source-logo  news.bitcoin.com 29 September 2023 18:35, UTC

Amid the soaring network difficulty, Bitcoin’s hashrate remains resilient, firmly holding above the 400 exahash per second (EH/s) frontier. A total of 43 mining pools channel their hashpower at the Bitcoin blockchain, yet, it’s Foundry USA’s pool that ruled the roost this month, seizing a 29.36% share of the total hashrate over the past 30 days.

Bitcoin Miners Unfazed: Hashrate Remains Strong Despite Soaring Difficulty

The forthcoming difficulty adjustment, slated for October 3, 2023, looms, yet the climb to a formidable 57.12 trillion in difficulty hasn’t swayed miners. Metrics spanning seven days signal that the hashrate has averaged at a robust 417 EH/s, especially after cresting to an all-time high (433 EH/s) on September 19 concerning seven-day averages.

Bitcoin hashrate over the seven-day average is 417 EH/s on September 29, 2023.

On Friday, September 29, a collective of 43 mining pools are channeling their SHA256 hashrate into the network. A mere two days ago, Bitcoin’s hash price index dipped beneath the $60 per petahash daily marker, yet with BTC’s price on a subsequent upswing, the hash price ascended to the current $61.32 per petahash a day.

Bitcoin hash price on September 29, 2023, via hashrateindex.com.

Within the last 30 days’ span, bitcoin miners have unveiled a sum of 4,414 block rewards, with Foundry USA claiming 1,296 of these blocks. Foundry has reigned supreme with 29.36% over the last 30 days concerning total hashrate recorded.

Antpool emerged as the second leading operation among mining pools regarding hashpower, having discovered 1,043 blocks since the previous month, translating to 23.63% of the 30-day hashrate aggregate. Trailing behind Foundry and Antpool were F2pool, Viabtc, and Binance Pool.

While Foundry and Antpool orchestrated 52.99% of the hashrate over the prior month, the other three top pools added an additional 30.77% to the network’s 30-day total. While the recent difficulty alteration hasn’t deterred the miners, projections denote a rise for the impending October 3 retarget.

What are your thoughts on the hashrate sustaining, even while the network’s difficulty scales to unprecedented peaks? Share your views and opinions about this subject in the comments section below.