Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change
Mining
Whereas the subsequent problem change for Bitcoin is simply two days away, the community’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on Might 02, 2023, at block top 787,895. This staggering quantity of computational energy got here tantalizingly near a half zettahash or 5 hundred quintillion hashes per second.
Bitcoin’s Hashrate Surges to Unprecedented Heights, Practically Reaching Half a Zettahash
On the second day of Might 2023, Bitcoin’s hashrate achieved a exceptional feat, tapping into a brand new report at block top 787,895. In a shocking show of computational energy, the community reached a 24-hour excessive of roughly 491.15 EH/s. This momentous spike in hashrate comes at a time when the community has been recording a median of roughly 344.4 EH/s over the previous 2,016 blocks, with the hashrate dipping under the 300 EH/s vary on 5 separate events since April 2, 2023.
Nonetheless, the month of April has seen slower block intervals, with block instances constantly exceeding the ten-minute common over the 30-day interval. The implications of Bitcoin’s slower block instances have been vital, resulting in a notable backup within the mempool. As of 8:30 a.m. Japanese Time on Might 2, information reveals {that a} staggering 240,000+ transactions stay unconfirmed.
The most recent surge in hashrate follows a earlier milestone achieved on April 18, 2023, when the community tapped 440.80 EH/s at block top 786,013. Nonetheless, Bitcoin’s present all-time excessive of 491.15 EH/s is much more spectacular, and awfully near a half zettahash. To place this into perspective, a zettahash represents an astronomical variety of hashes, equal to at least one sextillion hashes per second.
In a latest report by Bitcoin.com Information, analysis analyst Sam Wouters from River Monetary made a daring prediction that Bitcoin may enter the zettahash period in two years’ time. Wouters’ estimates recommend that “on the present development price in 2023, we’d attain a Zettahash by the tip of 2025.” Regardless of the community’s fast all-time excessive in hashrate, block instances proceed to lag behind the ten-minute common, and a downward problem adjustment between 1.22% to 2% is anticipated.
On the time of writing, Foundry USA reigns as the highest mining pool, boasting 107.66 EH/s or 31.17% of Bitcoin’s whole hashpower. Foundry is adopted carefully by Antpool with 80.75 EH/s, F2pool’s 42.62 EH/s, Binance Pool’s 29.91 EH/s, and Viabtc’s 23.18 EH/s.
