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Bitcoin hash rate soars, as difficulty to adjust positively on May 31

In the past 14 days, the hash rate has soared 4% hitting all-time highs

James Van Straten
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James Van Straten
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Quick Take

  • The Bitcoin hash rate has reached all-time highs, increasing by 4% in the past two weeks.
  • The current hash rate has reached 368 EH/s, demonstrating significant growth in 2023.
  • As a result, the difficulty adjustment is expected to be positive tonight, May 31, at roughly 8 PM GMT, and surpass 50T with a positive adjustment of around 3%.
  • The Bitcoin network has only seen three negative downward adjustments this year.
  • In the past three summer periods, the Bitcoin network experienced a decline in hash rate, shown in purple on the Difficulty Adjustment chart below.
Hash Rate: (Source: Glassnode)
Hash Rate: (Source: Glassnode)
Difficulty: (Source: Glassnode)
Difficulty: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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