Litecoin on the Brink of Third Halving: Record Hashrate and Profitable Mining Despite 17% Value Dip

In a specified fortnight, the Litecoin web is poised for its 3rd reward halving event, a seismic displacement that volition slash the LTC miners’ artifact rewards from 12.5 LTC per artifact down to 6.25 LTC. Data illustrates an intensified dedication of hashrate to the Litecoin blockchain arsenic the captious halving deadline draws near.

Litecoin Reward Halving Draws Near

Over the past 2 weeks, litecoin (LTC) has seen a notable descent, depreciating astir 17% successful worth against the U.S. dollar. However, casting the regard backmost a afloat period reveals a contrasting picture, with LTC capturing a summation of astir 18%. In conscionable 15 days, the Litecoin web stands connected the precipice of its 3rd halving.

History shows america a signifier with the archetypal 2 reward reductions taking spot connected August 25, 2015, and August 5, 2019, respectively. This forthcoming 3rd halving is acceptable to shrink the miners’ rewards from a important 12.5 LTC per artifact to a much humble 6.25 LTC. In opposition to Bitcoin’s mean artifact interval, which aims to timepiece successful astatine 10 minutes per block, Litecoin operates astatine a swifter pace, producing a caller artifact each 2.5 minutes.

At the clip of writing, factoring successful existent LTC speech rates, a azygous artifact rewards miners with $1,161 derived from the freshly minted 12.5 LTC. If the LTC’s terms manages to support the aforesaid speech rate, a artifact mined post-August 2, 2023, tin expect a worth of astir $580. The terms upswing of LTC implicit the caller 30-day span has sparked important interest, luring an abundance of Scrypt hashrate.

Litecoin’s hashrate dramatically peaked connected July 4, 2023, reaching a grounds precocious of 1.03 petahash per 2nd (PH/s) astatine artifact tallness 2,503,485. This indicates an unprecedented level of enactment connected the network. At present, LTC’s full hashrate is coasting on astatine 804 terahash per 2nd (TH/s).

In the mining industry, Litecoin’s application-specific integrated circuit (ASIC) mining devices are presently staking a assertion arsenic immoderate of the market’s astir profitable machinery. For instance, a mining rig delivering 8.8 gigahash per 2nd (GH/s) tin amass an estimated regular nett of $7.83. Moreover, a instrumentality operating astatine 9.5 GH/s could garner a somewhat higher regular earning of $9.24.

As of July 16, Viabtc reigns ultimate arsenic Litecoin’s starring mining pool, dedicating a formidable 268.63 TH/s of hashrate to the LTC chain. Approximately 27 dedicated mining pools are channeling their hashrate toward the LTC chain. Viabtc is followed by F2pool, contributing 136.87 TH/s, trailed by Antpool with 117 TH/s. Meanwhile, Litecoinpool adds 90.84 TH/s, Btc.com contributes 42.95 TH/s, and Poolin rounds retired the tract with a publication of 30.49 TH/s.

What bash you deliberation astir the upcoming Litecoin halving? Share your thoughts and opinions astir this taxable successful the comments conception below.