Bitcoin’s hash rate appears to drop 16% after miner revenue declines by 44%

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Bitcoin’s hash rate, the measure of miner’s performance, appears to have dropped by about 16% after the third halving as miners now generate twice less from the block subsidy.

According to The Block’s estimates, the daily miner revenue has dropped by about 44% after the halving – from $16.1 million to $9.0 million. Most of the older ASIC mining equipment, such as Antminer S9, is now unprofitable. The new-gen devices, such as Antminer S17 and Whatsminer M30S, remain vastly profitable.

The hash rate appears to be down from ~122 EH/s to ~102 EH/s. Out of the four largest pools (F2Pool, Poolin, Antpool, BTC.com), Poolin seems to have lost the largest amount of hash rate, approximately 30%, while BTC.com seems to have lost the least – a little over 10%.

Bitcoin’s interblock time, the time in between each block, has increased slightly with an average of 10:32 minutes since the halving. The next difficulty adjustment will likely take place in 5 days and the difficulty is predicted to be adjusted down by about 2%.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


Bitcoin’s hash rate appears to drop 16% after miner revenue declines by 44% written by Larry Cermak @ https://www.theblockcrypto.com/linked/65051/bitcoins-hash-rate-appears-to-drop-16-after-miner-revenue-declines-by-44?utm_source=rss&utm_medium=rss May 13, 2020 Larry Cermak

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