On Saturday, April 23, the processing power that powers transaction confirmation and the Bitcoin (BTC) network reached an all-time high (ATH). The hash rate reached the 271.19 Eh/s mark, which is approximately 271,190 petahashes per second (Px/s).
Bitcoin’s hash rate has never risen above this mark in its history, and compared to the hash rate on the block of 717,696 mined on January 8, 2022, its current rate has increased by 55.48%. The previous high of computing power supporting the bitcoin network of 246 Eh/s was recorded on February 12.
After changing the complexity adjustment algorithm on block 731 808, which resulted in a 1.26% decrease in complexity, it is expected to increase in about three days, presumably by 3.21%.
The bitcoin network’s complexity would then rise from the current 28.23 trillion to a record 29.13 trillion.
Last week the best mining pool was Foundry USA, capturing 22.55% of the world’s hashrate. Statistics show that a hash rate of 47.89 eps allowed the pool to detect 106 of the 470 blocks found by 13 pools. The second largest bitcoin miner was Binance Pool with a 12.98% hash rate or 27.56 Eh/s.
Despite not having the best bitcoin price performance in the first quarter of 2022, a more than 55% increase in hash rate is the result. According to the figures, the current value of BTC is profitable for mining using most ASIC devices with a capacity of 25 Tx/s or more.
At the time of publication, the expected profit of a Bitmain Antminer S19 Pro (110 Tx/s) mining rig with an electricity cost of $0.12 per kilowatt hour is $10.23 per day.