Bitcoin

Summer

<h2 id="quick-take">Quick Take</h2> 
<p>Bitcoin is witnessing a significant surge in its hash rate, with the recent figures setting new single-day records. On Dec. 1, the hash rate reached a high of 578 eh/s, followed by another notable surge on Nov. 3, where it achieved 558 eh/s.</p> 
<figure id="attachment_378934" aria-describedby="caption-attachment-378934" style="width: 100%" class="wp-caption aligncenter">
 <figcaption id="caption-attachment-378934" class="wp-caption-text">
  Hash Rate: (Source: Glassnode)
 </figcaption>
</figure> 
<p>Amid this surge, the Bitcoin network is less than a week from its next difficulty adjustment. This adjustment, currently in the positive territory by just over 1%, is poised to be the seventh consecutive positive adjustment. This sequence of positive adjustments mirrors a similar trend observed after the China mining ban in Summer 2021, which led to a steep % drop in the hash rate by 50%.</p> 
<figure id="attachment_378933" aria-describedby="caption-attachment-378933" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378933 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/12/HR1.png" alt="Difficulty Adjustment: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/12/HR1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/12/HR1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/12/HR1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/12/HR1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/12/HR1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-378933" class="wp-caption-text">
  Difficulty Adjustment: (Source: Glassnode)
 </figcaption>
</figure> 
<p>Despite the parallels, the present context differs significantly as it is marked by a marked increase in the hash rate rather than a decline. This expansion in the Bitcoin mining network’s computational power demonstrates its resilience and adaptability, critical factors in its long-term viability.</p> 
<p>The post <a href="https://cryptoslate.com/insights/bitcoin-hash-rate-sets-new-records-ahead-of-difficulty-adjustment/">Bitcoin hash rate sets new records ahead of difficulty adjustment</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin hash rate sets new records ahead of difficulty adjustment

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