On Thursday, Bitcoin’s mining difficulty adjustment algorithm (DAA) fell by 1.26 percent at a block height of 731,808. The drop is the third in 2022, with the difficulty falling by 0.35 percent on March 17 and 1.49 percent on March 3. In 2021, the DAA fell seven times and had one of the greatest drops in Bitcoin’s history on March 7, 2021, falling 27.94 percent. BTC’s hashrate has grown after the upgrade and is now hovering slightly around the 200 EH/s mark.
The 1.26 percent decrease makes it simpler for miners to locate blocks since the difficulty was at 28.59 trillion two weeks ago and is now at 28.23 trillion today. There are 1,982 blocks before the next DAA change. It is now expected to rise, but given that it is only around two weeks away, the forecast might change significantly by then. The next DAA change is scheduled for April 28, 2022. The current block subsidy of 6.25 BTC is worth $252,781 at today’s BTC exchange rate, and that will change in 751 days.
Bitcoin miners are growing closer by the day to the block reward halving, which is projected to happen on or around May 4, 2022 (though other predictions place it on May 3, 2022). After that day, BTC miners’ 6.25 BTC per block will be cut in half to 3.125 BTC each block. At the time of writing, the network is producing 900 BTC per day (144 blocks), and Bitcoin’s annual inflation rate is 1.74 percent. So far, 90.53 percent of all bitcoins that will ever exist have been created, with 1,988,481.23 BTC still available for release.
Foundry USA is the top mining pool over the past three days, with 72 blocks found and 16.63 percent or 33.54 EH/s of hashpower, due to a difficulty change that makes it simpler to find blocks than in the previous two weeks. A few more pools have joined in recent days, bringing the total number of recognised pools to 14, up from 11 two weeks ago. Unknown hashrate or stealth miners now control 1.39 percent of the global hashrate, or 2.8 EH/s. Unknown hashpower has acquired six blocks in the previous three days.
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