{"id":44177,"date":"2021-06-11T13:45:28","date_gmt":"2021-06-11T10:45:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44177"},"modified":"2025-08-31T15:46:14","modified_gmt":"2025-08-31T12:46:14","slug":"bitcoin-block-time-rises-as-hashrate-declines","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-block-time-rises-as-hashrate-declines\/","title":{"rendered":"Bitcoin block time rises as hashrate declines"},"content":{"rendered":"<p>On June 11, the interval between two blocks mined in the Bitcoin network was almost two hours. Journalist Colin Wu linked this to a drop in the first cryptocurrency&#8217;s hashrate.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin\u2019s entire network\u2019s hashrate dropped by 20E. Due to the decrease, Bitcoin has not produced blocks for 1 hour and 45 minutes. <a href=\"https:\/\/t.co\/kWnUhn9lwB\">pic.twitter.com\/kWnUhn9lwB<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1403257840807055362?ref_src=twsrc%5Etfw\">June 11, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Miners needed 105 minutes to mine block <a href=\"https:\/\/www.blockchain.com\/btc\/block\/0000000000000000000087d123e6a4c12118da3445e830428773dde057435a6a\">687143<\/a>.<\/p>\n<p>According to Coin Metrics, the hashrate of the first cryptocurrency fell to 123.5 EH\/s. <a href=\"https:\/\/bitinfocharts.com\/ru\/comparison\/bitcoin-hashrate.html#3m\">BitInfoCharts<\/a> estimates the metric even lower \u2014 about 120.6 EH\/s.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/coin_metrics_network_chart-1024x565.png\" alt=\"Bitcoin block time rose amid hashrate decline\" class=\"wp-image-138664\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/coin_metrics_network_chart-1024x565.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/coin_metrics_network_chart-300x166.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/coin_metrics_network_chart-768x424.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/coin_metrics_network_chart.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Trends in the Bitcoin network&#8217;s average hashrate. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<p>According to BTC.com, the next difficulty adjustment will occur in two days. The service forecasts the metric will fall from 21.05 T to 19.63 T.<\/p>\n<p>Since mid-May 2021, the average interval between blocks has generally exceeded 10 minutes. This may be linked to a drop in computing power at the previous difficulty. On June 11, the metric was 12 minutes.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"268\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/block-time-1-1024x268.png\" alt=\"Average block interval in the Bitcoin network\" class=\"wp-image-138665\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/block-time-1-1024x268.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/block-time-1-300x79.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/block-time-1-768x201.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/block-time-1-1536x403.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/block-time-1.png 1904w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Average block interval in the Bitcoin network. Data: <a href=\"https:\/\/bitinfocharts.com\/comparison\/bitcoin-confirmationtime.html#3m\">BitInfoCharts<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, the most recently mined Bitcoin block is <a href=\"https:\/\/www.blockchain.com\/btc\/block\/00000000000000000005d7251c78bea8e598121dfc8acf928b387a81c4713d93\">687148<\/a>. According to <a href=\"https:\/\/miningpoolstats.stream\/bitcoin\">MiningPoolStats<\/a>, Binance Pool spent 56 minutes to mine it.<\/p>\n<p>Earlier Wu noted that on June 9 the hashrate of China\u2019s largest mining pool, AntPool, fell by more than 25% in 24 hours. Other Chinese miners&#8217; figures fell by 11\u201330%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Because China\u2019s restrictions policy, Bitcoin hashrate starts to decline, ranked first antpool fell 25%. <a href=\"https:\/\/t.co\/9Dfqxr8OZe\">pic.twitter.com\/9Dfqxr8OZe<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1402578497793449987?ref_src=twsrc%5Etfw\">June 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In May, Vice Premier Liu He said authorities intended to take measures regarding <a href=\"https:\/\/forklog.com\/en\/news\/xinjiang-residents-of-one-of-the-largest-mining-hubs-ordered-to-halt-operations\">cryptocurrency mining and Bitcoin trading<\/a>.<\/p>\n<p>Later, Xinhua News Agency <a href=\"https:\/\/forklog.com\/en\/news\/china-criticises-bitcoin-and-mining-market-falls\">criticised digital gold and its mining methods<\/a>.<\/p>\n<p>In June, amid China&#8217;s stringent policy, residents of mining hubs in Xinjiang were required to cease activities.<\/p>\n<p>Similar demands were made to <a href=\"https:\/\/forklog.com\/en\/news\/authorities-in-chinas-qinghai-province-order-miners-to-halt-operations\">mining companies in Qinghai province<\/a>.<\/p>\n<p>According to media reports, authorities in Sichuan province <a href=\"https:\/\/forklog.com\/en\/news\/media-miners-in-sichuan-will-be-allowed-to-operate-until-september\">allowed miners to continue operating<\/a> until the end of the rainy season.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 11, the interval between two blocks mined in the Bitcoin network was almost two hours. Journalist Colin Wu linked this to a drop in the first cryptocurrency&#8217;s hashrate.<\/p>\n","protected":false},"author":1,"featured_media":44178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137],"class_list":["post-44177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=44177"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44177\/revisions"}],"predecessor-version":[{"id":44179,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44177\/revisions\/44179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/44178"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=44177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=44177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=44177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}