0.2 Zettahash: Bitcoin's Hashrate Taps New Lifetime High, Mining Difficulty Nears ATH – Mining Bitcoin News – Bitcoin News
by Jamie Redman
Bitcoin’s hashrate tapped a lifetime high on the first day of 2022 reaching 209.39 exahash per second (EH/s). During the last 12 months, Bitcoin’s hashrate has increased by 47.92% from the 141.55 EH/s recorded on January 3, 2021.
The processing power and security dedicated to the Bitcoin (BTC) network has never been higher, and the network tapped a milestone in 2022. According to the one-year hashrate chart hosted on coinwarz.com, BTC’s hashrate tapped a high of 209.39 EH/s on January 1, 2022. At the time of writing, the hashrate is still coasting along the two hundred three quintillion hashes per second (H/s) zone, and 30-day statistics indicate the network briefly tapped 224.32 EH/s on Saturday.
Bitcoin.com News recently reported on the BTC network reaching 194.95 EH/s not too long ago on December 8, 2021. It’s also worth noting that the Ethereum (ETH) network also reached an all-time high tapping 1 petahash per second (PH/s).
On December 22, 2021, the Ethereum network reached 1.0122 PH/s and today’s metrics show ETH’s hashrate is still above the 1 PH/s on Sunday. On January 3, 2021, Bitcoin’s hashrate was 141.55 EH/s or 47.92% lower than today’s BTC hashpower statistics.
Moreover, on June 28, 2021, China’s crackdown against BTC miners caused the hashrate to plummet to 69.11 EH/s. The network’s hashrate has grown 202.98% since that day as a great majority of mining operations relocated to other countries. At the time of writing, the largest bitcoin mining pool is Foundry USA with 19.45% of the global hashpower or 34.79 EH/s. The second-largest mining pool in terms of global hashrate is Antpool with 16.91% of the hashrate or 30.25 EH/s.
There’s only 11 known mining pools mining BTC today and 3.81% of the global hashrate stems from unknown hash or stealth miners. BTC miners have faced two bitcoin mining difficulty increases during the last two epochs. On December 11, the difficulty jumped 8.33% and on the 25th of December, it increased by 0.32%. Bitcoin’s next mining difficulty change will bring it awfully close to the difficulty’s all-time high at 25 trillion. In just over five days, the difficulty is expected to increase by 2.90% to 24.98 trillion.
What do you think about Bitcoin’s global hashrate growing 47% during the last 12 months and tapping an all-time hashrate high on January 1, 2022? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Core Scientific Inc. started trading on Nasdaq through an estimated $4.3 billion merger with Power & Digital Infrastructure Acquisition Corp.
Investors of Core Scientific Inc. (a leading US bitcoin mining company) have reportedly approved a plan to get listed on Nasdaq. The firm started trading under the symbol CORZ.
According to a recent report by Bloomberg, the blockchain infrastructure provider – Core Scientific Inc. – will proceed through an estimated $4.3 billion merger with the special-purpose acquisition company Power & Digital Infrastructure Acquisition Corp. (ticker XPDI).
The latter’s price shares have been on a downtrend after peaking to an all-time high of nearly $15 in November 2021. Since then, it has lost approximately 32% of its valuation.
Speaking on the partnership was Mike Levitt – Co-Founder and CEO of Core Scientific Inc.:
“We’ve worked hard to lay the groundwork that will enable us to achieve our 2022 projections. Our objective is to be the best. Being the best means doing all that we can for our business, the industry in which we participate, and for the bitcoin network.”
The Texas-based company assured it is the largest in the USA in terms of processing power as its combined mining capacity of 6.6 exahash at the end of last year significantly surpassed its rivals. In comparison, Marathon Digital Holdings had a 3.5 exahash in December 2021, while Riot Blockchain was third with 3.1 exahash.
It is also worth noting that Core Scientific mines for itself and provides Internet hosting services for other large-scale miners. Currently, the entity has a stockpile of nearly 5,300 BTC.
A month ago, the American bitcoin miner – TerraWulf – raised $200 million in debt and equity financing from a group of individual and institutional investors to expand its mining capacity. Furthermore, the firm revealed plans to become a Nasdaq-listed public company through a business combination with IKONICS Corporation (IKNX).
In turn, Marathon Digital, which is already a publicly-traded entity, spent almost $900 million to acquire 78,000 Antminer S-19 XP Miners from the Chinese manufacturer – Bitmain. The organization will receive the machinery in the second half of 2022.
Riot Blockchain was also active in the space. In December last year, it purchased the electrical equipment provider – Ferrie Franzmann Industries (known as ESS Metron) for $50 million. As a result, the latter started providing a steady infrastructure supply for Riot’s new mining machines.
Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
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