Although the price of Bitcoin is hovering around the 50,000 dollar mark, the mining scenario looks stronger than ever before. According to the data from last week, the Bitcoin network broke all its previous records of hashrate, reaching an all-time high of 194.95 exahash per second.
While mining Bitcoin has become 8.33% more difficult since December 11, miners have increased their processing power via a great margin. More than that, hashrate of bitcoin has also seen big records on two occasions this year when SHA256 hash power grew up exponentially.
Previously, when the price of Bitcoin touched the $64,000 mark, the network’s hash rate touched 191.42 exahash per second. As of now, Bitcoin prices have fallen down at around 26% then. In spite of this, the network’s hash rate skyrocketed to a new all-time high of 194.95 exahash per second last week.
There are a couple of factors surrounding the Bitcoin mining scenario since its last hash rate record. Firstly, Bitcoin saw the largest mining difficulty drop, dipping 27.94%. Post that, the difficulty slumped about 4.81% more. Besides this, on December 11th, Bitcoin mining difficulty slid to another 1.49%. This became a major contributor to the hash-rate increase since it brought a lot of new machines and ASICs into the network.
Another point to note is that the top mining pools have changed distribution significantly in the Bitcoin network. As of now, the top mining pool is Antpool with a share of 19.33%. Following that is F2Pool with 14.16% and Foundry USA at 13.07% of the global hash power. Previously, the major mining pool in the bitcoin network came from unknown hash rate or stealth miners.