Bitcoin Hashrate Rises Despite Price Drop - cryptocrypto.co.za

Bitcoin Hashrate Rises Despite Price Drop

The Bitcoin hashrate has risen a lot despite the fact that the price of the most popular crypto asset fell below $50K. The network hashrate was running at 168 exahash per seconds (EH/s) eight days ago, and it rose 7.73% to 181 EH/s this week.

Bitcoin’s Hashrate Rises after Difficulty Decline

Bitcoin’s (BTC), hashrate has increased by more than 7% in the past week following the drop below $50K. BTC’s Sunday hashrate is 181.59 EH/s at the time of writing. This is due to the network’s processing speed having been hitting daily highs.

Bitcoin (BTC), hashrate three-month metrics on December 5, 2021 according to Coinwarz statistics.

BTC’s three-month statistics show that the network’s hashpower was tapped at 190 EH/s Friday, December 3. The network’s hashrate hit an all-time high of 191.42 EH/s on May 9, 2021. The network’s difficulty in mining has decreased since the November 28 difficulty change, which is why the hashrate has not fallen in value.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin (BTC) hashrate all-time metrics on December 5, 2021, according to Coinwarz stats.

BTC saw its first decrease in mining difficulty since July 17. It was 1.49% easier to mine BTC after the difficulty fell seven days ago. At the current difficulty of 22.34 trillion, and with the current processing power, the next difficulty will increase by 1.17% to 22.6 trillion.

Nearly 20 Stealth Miners consume a large number of blocks for 50 days straight

Only 13 pools have been identified that dedicate SHA256 hashpower for the Bitcoin blockchain. Unknown hashrate, also known as stealth mining, commands 11.75% (19.84 EH/s), of the network’s hashpower.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin mining distribution by pool on December 5, 2021.

Bitmain’s Antpool has 17.94% (30.28EH/s) network hashpower and is currently the largest miner. Foundry USA, which has 16.49% (or 27.84 EH/s) of hashpower, is the second-largest miner pool. F2pool is just above Foundry USA with 13.20% hashrate and 22.27 EH/s.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin mining distribution by pool on December 5, 2021.

From mid-October to now, the network has seen a large amount of unknown hashrate and stealth miners. The unknown hashrate has been consuming a large number of BTC blocks for 50 consecutive days.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Unknown hashrate stats have increased since mid-October 2021.

Stealth miners have discovered 226,000 BTC blocks rewards since 2009 and 1,957 blocks by unknown hashrate during the past six months.

Hashpower, which is a result of many regions around the world, comes mainly from countries like the United States, Kazakhstan and the Russian Federation, Canada.