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Bitcoin sees sixth straight difficulty increase amid record-breaking hash rate surge Bitcoin sees sixth straight difficulty increase amid record-breaking hash rate surge

Bitcoin sees sixth straight difficulty increase amid record-breaking hash rate surge

Data via Glassnode

Bitcoin showcases resilience with historic hash rate peak and steady difficulty growth.

Quick Take

Bitcoin’s network dynamics are currently going through an exciting phase, with the upcoming difficulty adjustment exceeding 5%. The difficulty adjustment continues to put in all-time highs and is now above 68T.

This makes it the sixth consecutive positive adjustment this yearโ€”a streak only previously seen from December 2021 to February 2022. The recent explosion in Bitcoin’s hash rate is a critical component behind this upward adjustment.

Bitcoin Difficulty: (Source: Glassnode)
Bitcoin Difficulty: (Source: Glassnode)

On Nov. 19, the network recorded the highest single-day hash rate in its history. This surge in hash rate, indicating increased miner participation, and the subsequent difficulty adjustments underscore the robustness and adaptive nature of Bitcoin’s decentralized network.

Bitcoin Hash Rate: (Source: Glassnode)
Bitcoin Hash Rate: (Source: Glassnode)

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