Bitcoin mining difficulty is expected to drop by 1-4% to help miners relax

Current data suggests that Bitcoin’s difficulty may drop around May 4, 2023. The network’s hash rate currently stands at 332 exahashes per second (EH/s) after dropping to 290 EH/s on Tuesday. According to the statistics of the three data points (1, 2, 3), the inter-block interval, that is, the time between each detected block, is ten minutes on average to find the block.

Currently, estimates for the next difficulty change are around -1% to -4%. However, there is still more than a week before the difficulty adjustment, which is more than 1,000 blocks, so the specific number is still uncertain. However, the drop after five consecutive increments and a difficulty increase of more than 22% over the past two months is sure to give miners much-needed relief. Additionally, Bitcoin prices are also rising, helping miners to earn higher daily revenues before the next correction.

Over the past three days, Foundry USA contributed a significant hash rate of 110.30 EH/s, accounting for 32.68% of the total hash rate. It was followed by Antpool, which generated 79.62 EH/s or 23.59% of the total hash rate, securing its position as the second largest mining pool. Following Foundry and Antpool are F2pool, Viabtc and Binance Pool respectively.

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