Bitcoin miners get third break this year, over 100,000 blocks left until halving

Bitcoin miners are celebrating their third break this year as their computing power increased due to a 1.26% decrease in difficulty. This means that they will be able to mine more Bitcoins, and with that comes an endless supply of new coins.

Miners also have another 108,160 blocks left until the halving happens around May 3, 2024, which could make for some significant profits if prices continue to rise.

On March 3, Bitcoin’s Difficulty Adjustment Algorithm (DAA) fell by 0.35% and again on March 17 by 1.49%. This is the third time in 2022 that the DAA fell 1.26% on Thursday to a block height of 731,808.

Bitcoin experienced a significant reduction in the difficulty adjustment algorithm on March 7, 2021. As a result, the DAA was reduced by 27.94%. This was one of the biggest drawdowns in the life of Bitcoin. However, since this change, the hashrate has increased.

With a 1.26% drop in DAA, it is easier for miners to find the blocks. Two weeks ago the difficulty was 28.59 billion, and today with this decrease, the figure is 28.23 billion. There are still 1,982 blocks left until the next DAA change.

Currently, the difficulty adjustment algorithm is expected to increase in the next change. The next DAA is estimated for April 28. So the next change will happen in two weeks. Using today’s Bitcoin price, the current 6.25BTC block grant is worth $252,781.

More Bitcoin Pools Unite as Just Over 100,000 Block Rewards to Go Until Halving

Bitcoin miners are getting closer every day to the block reward halving that is expected to occur around May 4, 2024. Some estimates assume that it may appear on May 3, 2024. As a result, things are turning favorable for the miners. Miners can expect a significant increase in revenue with this new halving program.

After the halving, miners will see their reward cut in half, from 6.25 Bitcoins per block to 3,125 BTC per block. The network produces about 900 coins per day (144 blocks) and the inflation rate for Bitcoin is 1.74%. So far, 90% of all bitcoins imaginable have already been minted, only 988481.23 left.

It’s been a quiet few days for the mining community as the difficulty keeps changing, making it easier to find blocks. Foundry USA currently holds top honors among all other groups in the last three days. They found 72 blocks and 16.63% or 33.54 EH/s of hashpower.

In recent days some more pools have been added. For example, two weeks ago there were 11 known bitcoin mining pools, but now there are 14.

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