March 28, 2024

Bitcoin Hashrate Falls After Mining Profitability Decreases

Bitcoin Hashrate Falls After Mining Profitability Decreases

After reducing the reward for the mined block, the Bitcoin network hashrate decreased by 16%.

According to The Block,total daily income of miners afterhalving fell by 44% – from $16.1 million to $9 million. Most of the old miners, like Antminer S9, are no longer profitable. New generation devices such as Antminer S17 and Whatsminer M30S remain profitable.

The network hashrate decreased from 122 EH/s to 102 EH/s.Of the four largest mining pools (F2Pool, Poolin, Antpool, BTC.com), Poolin lost the most hashrate – about 30% – and BTC.com lost a little more than 10%.

After halving, the interval between new blocks averages 10 minutes 32 seconds. The next difficulty adjustment will occur in 5 days. Mining difficulty is expected to be reduced by 2%.

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Based on materialswww.theblockcrypto.com