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On Sunday, January 29, 2023, the Bitcoin blockchain recorded another increase in complexity at block height 774,144. The network's complexity increased by 4.68%, from 37.59 trillion to an all-time high of 39.35 trillion.
Bitcoin Difficulty Hits New All-Time High As Mining Gets Harder
Bitcoin difficulty hit another all-time high, surpassing the record set two weeks ago, after rising 4.68% on Sunday. The increase occurred at an altitude of block 774,144 at 6:10 AM (UTC). The difficulty is now 39.35 trillion, almost surpassing 40 trillion. The next adjustment is due on February 11, 2023.
Bitcoin difficulty increased by 4.68%, reached a new all-time high; The indicator should exceed 40 trillion
The increase complicates block mining after a 4.68% jump following a 10.26% increase on January 15, 2023. Statistics for January 29 show a hashrate of 279.7 exahashes per second (EH/s) for the last 2,016 blocks, currently at 283.55 EH/s dedicated to the Bitcoin blockchain.
Bitcoin difficulty increased by 4.68%, reached a new all-time high; The indicator should exceed 40 trillion
Statistics from macromicro.me as of January 28, 2023 estimate the production cost of BTC at $21,176 per unit. On January 29, the spot price was $23,584. With spot prices higher than the cost of production, Bitcoin ( BTC ) miners have recouped some losses since late 2022.
The pool distribution calculated by blocks discovered shows that Foundry USA is the best mining pool with 101.47 EH/s, which is 34.89% of the network hash power. Antpool has 57.54 EH/s, or 19.79% of the total network hashrate. F2pool, Binance Pool, Viabtc, Btc.com and Braiins Pool follow Foundry and Antpool respectively.
As the difficulty increased, block intervals, or the time between each BTC block, ranged from approximately 9:02 to 9:38 minutes. That's slower than the last 8:54 to 9:31 minutes , recorded two days ago, but still faster than the 10-minute average.
Author: GEximius
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