Bitcoin

<h2 id="quick-take">Quick Take</h2>
<p>Bitcoin’s mining difficulty, an important metric for the health of the network, has seen another positive adjustment, 62.46T, marking the fourth consecutive rise. This time, the increase is slightly over 2%, a subtle yet important change that signifies the continued growth and resilience of the network.</p>
<figure id="attachment_369195" aria-describedby="caption-attachment-369195" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-369195 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/diff.png" alt="Difficulty: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/diff.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/diff-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/diff-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/diff-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/diff-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-369195" class="wp-caption-text">
  Difficulty: (Source: Glassnode)
 </figcaption>
</figure>
<p>As a consequence of this adjustment, the hash rate—representing the processing power of the Bitcoin network—has experienced a surge. Currently, it hovers just under 450 exahashes per second (eh/s), based on a 7-day moving average. The hash rate is a key indicator of miner participation and overall network security.</p>
<p>CryptoSlate previously addressed the impact of <a href="https://cryptoslate.com/insights/advancing-mining-efficiency-in-light-of-bitcoins-diminishing-returns/" rel="noopener noreferrer nofollow">such hash rate surges</a>, particularly in the context of halving events. Halving, a pre-programmed reduction in the reward miners receive for adding a new block to the blockchain, has potential implications on the hash rate — not only affecting the miners but also shapes the broader landscape of Bitcoin’s market dynamics.</p>
<figure id="attachment_369194" aria-describedby="caption-attachment-369194" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-369194 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/HR1.png" alt="Hash Rate: (Source: Glassnode)" width="1330" height="747" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/HR1.png 1330w, https://cryptoslate.com/wp-content/uploads/2023/10/HR1-300x168.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/HR1-1024x575.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/HR1-768x431.png 768w" sizes="(max-width: 1330px) 100vw, 1330px">
 <figcaption id="caption-attachment-369194" class="wp-caption-text">
  Hash Rate: (Source: Glassnode)
 </figcaption>
</figure>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoins-mining-difficulty-adjusts-upwards-for-the-fourth-consecutive-time/">Bitcoin’s mining difficulty adjusts upwards for the fourth consecutive time</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin’s mining difficulty adjusts upwards for the fourth consecutive time

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