RATE Group | Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16
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Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16

02 May Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16

Posted at 00:21h in Bitcoin News by

In an unusual deviation from the norm, bitcoin miners just produced 16 blocks in 63 minutes, according to the Blockstream bitcoin block explorer. Four of the new blocks were mined within 46 seconds at 19:02 UTC on Friday.

Each new bitcoin block is produced every 10 minutes, on average. The exact time required to produce a new block can vary significantly and depends in part on the current mining difficulty level, which adjusts every 2,016 blocks, or approximately once every two weeks. 

Bitcoin’s anomalous spree of new blocks was first noticed by Étienne Larrivée, bitcoin developer at Satoshi Portal, a Canadian bitcoin financial services company. “Four blocks in less than a minute doesn’t feel natural, but it’s most likely only variance,” Larrivée told CoinDesk. 

Such rapid block production could signal bitcoin’s current difficulty level is too low, meaning mining new blocks is too easy. Or it could be a simple coincidence, the product of block time variability. 

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