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Bitcoin’s hash rate soars to record heights Bitcoin’s hash rate soars to record heights

Bitcoin’s hash rate soars to record heights

Data via Glassnode

With a record hash rate of 566 EH/s, Bitcoin closes to 10,500 blocks from its anticipated halving event.

Quick Take

Bitcoin’s hash rate has reached an unprecedented high, marking a fourteen-day moving average of 566 exahashes per second (EH/s). This surge follows Feb. 2, a 7.3% rise in difficulty adjustment, bringing it to a record-setting 75.50T.

Hash Rate Adjustment Change: (Source: Glassnode)
Hash Rate Adjustment Change: (Source: Glassnode)

Over the past three weeks, since the Texas freeze-induced low, the hash rate has skyrocketed by 12%, further reinforcing the network’s resilience to external shocks. If this hash rate acceleration continues, the next difficulty adjustment epoch, scheduled around Feb. 15, is projected to adjust upwards between 7 and 12%, according to Newhedge.io.

This heightened hash rate has not only brought forward the projected halving date by a day to April 19 but also signifies the network is approximately 10,500 blocks away from this significant event, according to Clarkmoody.com. This upward trend in hash rate and difficulty adjustment reflects the increasing interest and heightened activity within the Bitcoin network.

Halving: (Source: bitcoin.clarkmoody.com)
Halving: (Source: bitcoin.clarkmoody.com)

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