Bitcoin Miners Accrue 27,025 Fresh Bitcoin in June as Mining Difficulty Hits All-Time High
In June, Bitcoin miners added a total of 27,025 new Bitcoin to circulation. This was made possible by an average hashrate of approximately 359 exahash per second (EH/s) recorded over the past 2,016 blocks. Currently, the hashrate stands at around 335.71 EH/s, with 37 mining pools contributing to the Bitcoin chain.
Main Breakdowns:
- Foundry USA was the top mining pool in June, accounting for 32.47% of the global hashrate.
- Antpool claimed the second position, capturing a 21.35% share of the total hashrate.
- Other major mining pools included F2pool, Binance Pool, and Viabtc, which together accounted for 31.17% of the global hashrate.
- The Bitcoin blockchain experienced two difficulty retargets in June, resulting in an all-time high difficulty of 52.35 trillion and a subsequent decrease to the current 50.65 trillion.
- The next difficulty change is scheduled for around July 13, 2023, and the next block reward halving is expected to occur on or around April 21, 2024.
Hot Take: Bitcoin mining continues to be a lucrative venture, with miners adding thousands of new Bitcoins to circulation each month. However, the upcoming halving of block rewards poses challenges to mining profitability. As the daily BTC production per EH/s of operating hashrate declines, miners need to adapt their strategies to maintain profitability in the changing landscape of Bitcoin mining.
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