Bitcoin Hashrate Increases 22,900% in 6 Years, But Block Rewards Are Much More Difficult to Discover – Mining Bitcoin News

Over the past 12 months, Bitcoin’s hashrate increased by 85.77%, 53,547 blocks were mined, and 334,668.75 new Bitcoins were put into circulation. Over 20 bitcoin mining pools have used hashrates dedicated to the bitcoin blockchain in the last six years, and while the hashrate is 22,900% higher than his, the number of bitcoins discovered per year is much higher. It’s getting less.

334,668 Bitcoins have been issued since September 2021 — Foundry USA wins the most blocks

Since September 10, 2021, miners have earned just over 334,668 BTC and found 53,547 blocks in the last 12 months. Foundry USA was the top mining pool among 28 mining pools that discovered blocks in the past year.

Foundry gained 18.14% of the global hashrate average this year and discovered 9,716 blocks. Antpool is his second largest miner in the past year, earning him 15.31% of global hashrate. Antpool found 8,198 blocks, or 51,237.50 BTC (not including fees) in his 12 months.

Antpool is followed by F2pool’s annual hashrate of 14.79% after the pool found 7,919 block rewards. Binance Pool was his 4th largest mining pool this year at 10.72% of his 12-month hashrate average.

Binance Pool discovered 5,738 blocks last year. This equates to 35.862.50 BTC (not including fees). Poolin used 10.69% of the global hashrate in the last 12 months and found 5,724 blocks. Unknown Hash or Stealth Miner He represented the 12th largest mining entity at 1.74% of global hashrate this year after Stealth Miner discovered 934 blocks.

Annual block reward production was the same in 2016 and 2019, but miners discovered more bitcoins then

The situation is very different today than it was six years ago, as hashrates reached 1 exahash per second (EH/s) in 2016.

The top mining pool in November 2016 was F2pool, which achieved 21.71% of the global hashrate that year after discovering 11,958 blocks. F2pool was followed by Antpool, BTCC, Bitfury and BW.com respectively. The last 12 months saw an 85.77% increase in hashrate, but since 2016, hashrate has increased by 22,900% of his.

The hashrate is much higher than it was 6 years ago, but the difficulty is also much higher. The number of bitcoins that miners now acquire is also much lower. Last year he had 334,668.75 BTC issued, but in his first six months of 2016 miners discovered his 688,462.50 BTC. This is because the block reward was 25 BTC per block.

Additionally, only 344,231.25 BTC were discovered in the second half of 2016, which is still higher than the 334,668 coins issued since September last year. In late 2016, the miner earned 12.5 BTC per block, but today and since May 2020, the miner is earning 6.25 BTC per block.

In April 2019, 53,522 blocks were discovered and 669,025 new Bitcoins were issued that year. Btc.com found his 10,468 blocks and was the top miner at the time, while Antpool was his second largest pool in 2019 with his 7,122 blocks.

While unknown hashrates accounted for 1.74% of hashpower last year, stealth miners were virtually non-existent in 2016. However, in April 2019, an unknown hashrate gained his 3.76% of the global hashrate in his 12 months, and in that year he found 2,013 blocks.

Despite the fact that miners are getting far less bitcoin per block than they were 3 or 6 years ago, the price has gone up, making it harder for miners to make a profit on all their mining spending. creates a sufficient equilibrium for

In February 2019, the price of Bitcoin was $3,464 per BTC, and the value of the US dollar at that time meant that very few mining rigs were profitable. Using Bitcoin’s February 2019 difficulty index, price and electricity cost of $0.12 per kilowatt-hour, only three of his SHA256 mining rigs were profitable.

What do you think of the last 12 months of Bitcoin block production? Let us know your thoughts on the matter in the comments section below.

Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols currently emerging.