Bitcoin mining difficulty continues to rise and this time it is up 3.44%, now at 36.84 trillion.

This weekend, Bitcoin mining difficulty jumped 3.44% above the rally that miners have handled over the past two weeks or the last of 2016 blocks.

Network difficulty reached an all-time high of 36.84 trillion, after rising 3.44% on Sunday evening.

Sunday’s rally comes after the 13.55% difficulty increase recorded on October 10, 2022, at block 758,016.

The 13.55% increase was the largest Bitcoin difficulty increase of 2022, and it occurred when the total Bitcoin hash rate reached a new high on October 11, 2022, at block 758138.

On October 11, the network hash rate reached 325.11 exahhashes per second (EH/s) which is equivalent to three hundred twenty-five quintillion and one hundred and ten quadrillion hashes per second which are pretty big numbers.

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On October 21, the hash rate was almost flat with high difficulty level and low bitcoin prices, as bitcoin’s computational power remains stronger than ever.

Bitcoin hash rate reached 260 to 275 EH/s.

The reason for the increased difficulty on Sunday is that 2016 blocks were mined faster than the two-week average.

Prior to the shift, the average time to extract a Bitcoin block on Sunday, October 23, 2022 was lower than usual with a time clocked at around 8:79 minutes.

The October 21 mining update highlighting the strength of network hashing indicated that the block intervals were between 8:30 minutes to 9:35 minutes.

The difficulty objectives set by Satoshi Nakamoto attempt to keep the ban periods at a rate of ten minutes per block.

If 2016 blocks between the difficulty target are less than the average of the two weeks, the difficulty will rise and a decrease will occur if it takes a long time (more than two weeks) to mine 2016 blocks.

Currently, the three largest bitcoin mining pools are:

USA Foundry, Antpool and F2pool

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at 60.36% of the global hash rate.

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Over the past three days, 444 bitcoins have been mined, with Foundry accounting for 13 percent of those blocks.

While Antpool captured 90 blocks and F2pool found 65 of the 444 blocks found.

Twelve known mining pools dedicate their SHA256 hash towards the Bitcoin network and 4.05% of the global hash belongs to an unknown hashing force, known as ghost miners.

At the time of writing, the block has a dollar value of $122,250 and the next expected mining difficulty retargeting is scheduled for or around November 6, 2022.

Currently there are approximately 79,900 blocks left until the next mining reward split which is expected to occur between February 24, 2024 and April 20, 2024.

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