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Bitcoin Hash Rate Rises Despite Price Drop

Crypto Mining - The Bitcoin hash rate has increased drastically even after the price of the leading crypto asset slumped below the $50,000 price zone.
Bitcoin Hash Rate Rises Despite Price Drop

Crypto Mining – The Bitcoin hash rate has increased drastically even after the price of the leading crypto asset slumped below the $50,000 price zone. eight days ago, the network hash rate was 168 exahash per second (EH/s) and last week it increased 7.73% to reach today's 181 EH/s.

Bitcoin Hash Rate Rises Higher After Difficulty Decreases

After the price drop below the $50,000 zone, the Bitcoin hash rate remains strong and has increased by more than 7% over the past week. BTC's hash rate on Sunday was 181.59 EH/s as the network's processing power hits daily highs.

btc hashrate

According to Coinwarz statistics, Bitcoin (BTC) hash quarterly metrics on December 5, 2021.

Quarterly statistics show that the hash rate of BTC reached 190 EH/s on Friday, Dec. The metrics show that the network's hash rate hit an all-time high of 191.42 EH/s on May 9, 2021. One reason the hash rate has remained high despite the recent price drop is seen as the network's mining difficulty dropped during the last difficulty change on November 28.

btc hashrate chart

Bitcoin (BTC) all-time hash rate metrics for December 5, 2021, according to Coinwarz statistics.

The change made that day saw BTC's first mining difficulty decrease since July 17. The difficulty dropped seven days ago, making BTC mining 1.49% less difficult. The current difficulty is 22.34 trillion and at the current processing power speed, the next difficulty is predicted to increase by 1.17% to 22.6 trillion.

Mysterious Miners At Work

Nearly 20 hidden miner exahash consume large numbers of blocks for 50 days

There are only 13 pools known to dedicate SHA256 hash power to the Bitcoin blockchain, and as secret miners, the unknown hash rate manages 11.75% (19.84 EH/s) of the network's hash power.

bitcoin pool chart

Bitcoin mining distribution by the pool on December 5, 2021

Antpool by Bitmain is the largest miner in terms of network hash power today, with 17.94% (30.28 EH/s) of hash power. The second-largest mining pool on Dec. 5 is Foundry USA with a hash rate of 16.49% or 27.84 EH/s. Just below Foundry USA is F2pool, which commands a 13.20% hash rate or 22.27 EH/s.

bitcoin pools

Bitcoin mining distribution by the pool on December 5, 2021

From mid-October until now, the network had a large number of unknown hash rates, aka hidden miners. For 50 days, the unknown hash rate consumed a large number of BTC blocks.

unknowns

Unknown Bitcoin hash rate statistics increased since mid-October 2021

Since 2009, private miners have found 226,000 BTC block rewards, and 1,957 blocks have been discovered by the unknown hash rates in the past six months.

Originating from many parts of the world has power mostly comes from countries such as the United States, Kazakhstan, Russian Federation, Canada, Ireland, Malaysia, Germany, and Iran.