While Bitcoin’s Hashrate Grew by 22,900% in 6 Years, Discovering Block Rewards Is Far More Difficult – Mining Bitcoin News


Over the previous 12 months, Bitcoin’s hashrate has elevated by 85.77%, whereas 53,547 blocks have been mined and 334,668.75 new bitcoin have been minted into circulation. Greater than two dozen bitcoin mining swimming pools have devoted hashrate towards the Bitcoin blockchain over the last six years, and whereas the hashrate is 22,900% increased, the variety of bitcoins discovered per yr is an entire lot much less.

334,668 Bitcoin Minted Since September 2021 — Foundry USA Captures the Most Blocks

Miners accrued simply over 334,668 BTC since September 10, 2021, and 53,547 blocks have been discovered throughout the previous 12 months. Foundry USA has been the highest mining pool out of the 28 mining swimming pools that discovered blocks throughout the previous yr.

Foundry captured 18.14% of the yr’s world hashrate common and located 9,716 blocks. Antpool was the second largest miner throughout the previous yr, capturing 15.31% of the worldwide hashrate. Antpool managed to find 8,198 blocks, or 51,237.50 BTC (not together with charges) in 12 months.

While Bitcoin’s Hashrate Grew by 22,900% in 6 Years, Discovering Block Rewards Is Far More Difficult
12-month mining pool statistics on September 10, 2022.

Antpool is adopted by F2pool’s 14.79% of the yr’s hashrate, after the pool discovered 7,919 block rewards. Binance Pool was the yr’s fourth largest mining pool with 10.72% of the 12-month hashrate common.

Binance Pool discovered 5,738 blocks this previous yr, which equates to 35.862.50 BTC (not together with charges). Poolin took 10.69% of the worldwide hashrate throughout the previous 12 months discovering 5,724 blocks. Unknown hash or stealth miners represented the twelfth largest mining entity with 1.74% of the yr’s world hashrate after stealth miners discovered 934 blocks.

Annual Block Reward Manufacturing Was the Identical in 2016 and 2019, however Miners Found a Lot Extra Bitcoin Again Then

Issues are an entire lot totally different than they have been six years in the past from right now, because the hashrate hit 1 exahash per second (EH/s) in 2016. 27 swimming pools have been mining BTC in 2016 and 55,077 blocks have been discovered that yr.

The highest mining pool in November 2016 was F2pool with 21.71% of the yr’s world hashrate after it discovered 11,958 blocks that yr. F2pool was adopted by Antpool, BTCC, Bitfury, and BW.com, respectively. Whereas the final 12 months has seen an 85.77% hashrate improve, since 2016 the hashrate has jumped 22,900% increased.

While Bitcoin’s Hashrate Grew by 22,900% in 6 Years, Discovering Block Rewards Is Far More Difficult
12-month mining pool statistics on November 24, 2016.

Whereas the hashrate is an entire lot greater than it was six years in the past, the issue has elevated an awesome deal as nicely. The variety of bitcoins miners get these days can also be a lot smaller. Whereas 334,668.75 BTC was minted this previous yr, throughout the first six months of 2016, miners discovered 688,462.50 BTC, as a result of the block reward was 25 BTC per block.

Furthermore, throughout the latter half of 2016, solely 344,231.25 BTC was discovered, however that’s nonetheless greater than the 334,668 cash minted since final September. In the course of the second half of 2016, miners received 12.5 BTC per block somewhat than the 6.25 BTC per-block reward miners get right now and since Could 2020.

In April 2019, 53,522 blocks have been discovered that yr and 669,025 new bitcoin have been minted into circulation. Btc.com was the highest miner on the time, after discovering 10,468 blocks, and Antpool was the second largest pool, capturing 7,122 blocks in 2019.

Whereas unknown hashrate represented 1.74% of the previous yr’s hashpower, in 2016 stealth miners have been just about non-existent. In April 2019, nonetheless, unknown hashrate captured 3.76% of the worldwide hashrate throughout the 12-month span and located 2,013 blocks that yr.

Even supposing miners get so much fewer bitcoins per block than they did three years in the past or six years in the past, the worth is increased, creating sufficient equilibrium to the place miners nonetheless revenue with all of the expenditures they put into mining.

In February 2019, bitcoin’s value was $3,464 per BTC and the USD worth on the time made it so just a few mining rigs have been worthwhile. Utilizing Bitcoin’s February 2019 problem metric, the worth, and $0.12 per kilowatt-hour in electrical energy prices, solely three SHA256 mining rigs have been worthwhile.

Tags on this story

12.5 BTC per block, 2016, 2019, 25 BTC per block, 6.25 BTC per block, Antpool, asic miner, Bitcoin mining, Bitcoins Discovered, BitFury, block rewards, Blocks, BTC Mining, BTCC, BW.com, crypto property, Discovering Block Rewards, F2Pool, Hashpower, Hashrate, mining, Mining BTC, Mining Swimming pools

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Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising right now.

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