The Bitcoin network has been operational for 5,012 days and so far, more than 755,000 blocks have been mined into existence. During the last year, Foundry USA and Antpool were the top two miners as the combined pools collectively mined 18,229 blocks out of the 53,510 blocks mined this year. Foundry is the leader this year, but all-time statistics show the pool is the 15th largest, and has only found 1.55% of the more than 755,000 blocks discovered.
Unknown Hashrate Discovered a Majority of Bitcoin Blocks During the Last 13 Years
During the past three days, 11 different known mining pools have dedicated hashrate to the Bitcoin (BTC) network. Furthermore, during the last 12 months, 27 different known mining pools mined BTC and all-time statistics indicate roughly 98 pools have mined BTC during the past 13 years.
This year, Foundry USA is and has been the leader in terms of hashrate, and out of 53,510 BTC blocks, Foundry discovered 10,044 blocks total. Antpool managed to gather 8,185 BTC blocks, and the two top pools were followed by F2pool, Binance Pool, Viabtc, Poolin, and Btc.com, respectively.
Unknown hashrate, otherwise known as stealth miners, only captured 1.78% of the blocks found during the past year. Unknown hashrate managed to gather 954 blocks in 12 months as known mining pools have become a prominent force in the world of Bitcoin.
Yet, that hasn’t always been the case, and stealth miners including Satoshi Nakamoto, are still the ultimate winners of the most BTC blocks found in history. Data shows that out of 755,432 blocks mined during the last 13 years, unknown hashrate has captured 29.90% of the global hashrate.
While unknown hashrate is less notable these days, stealth miners have managed to find 225,864 blocks since the network started. While F2pool was the third largest pool this past year, the pool is the second largest pool of all time.
F2pool has managed to command 9.73% of the global hashrate for more than a decade, and it has found 73,477 BTC blocks. Antpool holds the third largest pool position of all time with 65,999 blocks found to date.
Btc.com captured 39,022 blocks and Braiins Pool (formerly known as Slush Pool) found 38,376 blocks to date. The now-defunct BTC Guild is still the sixth largest mining pool in terms of blocks found during the past 13 years.
Today’s top miner, Foundry USA, is in the 15th position in terms of all-time statistics and it’s only found 1.55% of the blocks mined to date. 12 different pools have found less than 50 blocks and four mining pools have found less than 30.
The bitcoin mining pool 175btc has found the least amount of blocks (22), according to all-time bitcoin mining distribution statistics. After 13 years, in September 2022, Bitcoin’s global hashrate and mining difficulty reached all-time highs.
What do you think about the distribution of bitcoin blocks during the last 13 years? Let us know what you think about this subject in the comments section below.
Source: Mining Archives – Bitcoin News
Bitcoin’s Mining Difficulty Expected to Drop Significantly, Retarget Could Be 2022’s Largest Reduction
Bitcoin miners could catch a break in a week or so, on or around Dec. 5, 2022, as the next difficulty retarget is expected to see a significantly large reduction. Estimates show the next difficulty retarget could drop anywhere between 6.13% and 10% lower. Presently, the difficulty change looks as though it could be 2022’s […]
Bitcoin miners could catch a break in a week or so, on or around Dec. 5, 2022, as the next difficulty retarget is expected to see a significantly large reduction. Estimates show the next difficulty retarget could drop anywhere between 6.13% and 10% lower. Presently, the difficulty change looks as though it could be 2022’s largest reduction if it surpasses the 5.01% decline recorded on July 21.
Bitcoin’s Next Difficulty Retarget Is Expected to Decrease, Data Suggests a Notable Drop in the Cards
When the last Bitcoin difficulty change occurred on Nov. 20, 2022, at block height 764,064, it increased by a mere 0.51% that day. The increase did, however, propel the network’s difficulty to its lifetime high of 36.95 trillion. Since then, during the past week, the network’s average hashrate has been around 249.1 exahash per second (EH/s).
The average Bitcoin network block time has been slower than usual as well, running between 10.2 minutes to 11.06 minutes on Monday evening (ET). The block intervals have been a lot higher since the difficulty change on Nov. 20, as prior to that day, block times had been on average less than ten minutes since Sept. 29.
The longer block times suggest the 2,016 blocks mined prior to the next retarget will be slower than the average of two weeks. At the time of writing, statistics indicate that the retarget could drop as low as 10% on Dec. 5, and metrics from Btc.com indicate the drop is estimated to be around 6.13%.
Both estimates would outpace the largest difficulty contraction the Bitcoin network has seen all year with the largest decrease so far recorded on July 21, which was approximately -5.01%. Miners are currently dealing with the highest difficulty ever recorded, and bitcoin (BTC) prices are 76% lower than the all-time high ($69K) recorded on Nov. 10, 2021.
Mining insights from braiins.com and macromicro.me show BTC’s cost of production ($18,360) is above the current spot market value ($16,250). Additionally, market intelligence from Glassnode indicates that bitcoin miners are tapping into their treasuries.
The onchain analytics firm Glassnode tweeted about how the bitcoin mining sector and industry is “under immense financial stress,” while announcing a mining report the firm published with Cryptoslate.
“What we find is that [bitcoin] miners are distributing around 135% of mined coins,” Glassnode said. “This means miners are dipping into their 78K [bitcoin] strong treasuries.” During the latter half of the year, publicly-listed mining operations have disclosed that they have been selling BTC to bolster cash reserves and pay down debt.
At the time of writing at 7:30 p.m. (ET), Foundry USA’s three-day hashrate is around 60.66 EH/s, which represents 25.45% of the global hashrate. In three days, the largest mining pool Foundry mined 98 BTC blocks out of 385 discovered by all the miners.
Foundry’s hashrate is followed by Antpool, F2pool, Binance Pool, and Viabtc respectively. Between all five pools over the last three days, the top five mining pools were able to discover 315 blocks out of the 385 total.
What do you think about the chance that the next difficulty retarget could be the largest decrease in 2022? Let us know what you think about this subject in the comments section below.
Source: Mining Archives – Bitcoin News