Bitcoin’s complicated extraction of block rewards has become more difficult now than ever since its inception. The oldest project in cryptocurrency in the world still has a high hash rate. Yet, it faces this challenge. The difficulty is currently rated and estimated at a massive 20.8 trillion. Although, the miners of the crypto giant have kept the hash rate hot.
Bitcoin has been riding the high waves of the crypto world ever since its widespread popularity grew. Except for this year, it has been slipping up and down. It took a massive plunge on the 16th of January, dipping below the $30,000 mark. The number is still record-high, as a couple of mining machines, by ASIC have managed to engage profit from the price currently. Even mining rigs of the older generation have picked up gains.
Why Is Bitcoin Mining Still A Difficulty?
In its history of about over a decade, the challenge of Bitcoin mining has never been as severely high as today. This indicates how tough it would be to mine a block by BTC. The taller its difficulties, the tougher the mining and finding process will be. The rate of difficulty, as per current status, is over 20.8 billion.
Bitcoin has mining pools, which sum up to about 22. This is higher compared to last year’s count, which was 18. Hence, these pools are the ones saving BTC from drowning at all. The hash rate for the crypto-firm is way above 150. The hash rate for BTC’s parent has been dabbing between two higher ranges, i.e., 140 – 165 eH/s (exahash every second).
Here are the top 5 pools that are mining Bitcoin, currently: F2pool, Poolin, Binance Pool, Btc.com, and lastly, Antpool. Together, they sum up about 65.45% of hash rates currently. The rest of the hash rate is held by 17 more mining pools, totaling 38.55%.
