Ad
Insights
Bitcoin’s hash rate hits record high after difficulty drop Bitcoin’s hash rate hits record high after difficulty drop

Bitcoin’s hash rate hits record high after difficulty drop

Data via Glassnode

Bitcoin miners brace for increased difficulty after the network's hash rate hits an all-time high.

Quick Take

Bitcoinโ€™s hash rate, an indicator of the computational power used for mining and processing transactions, has recently achieved a historic high. The 14-day moving average hash rate now stands at an unparalleled 586 eh/s, further enhancing the digital assets security. While the one-day hash rate peak of 711 eh/s on March 7 stands out, the 14-day moving average is considered a more reliable indicator as it smooths over short-term volatility.

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

This increase in hash rate signals a predicted adjustment of over 3% in the current difficulty epoch, expected on March 14, according to Newhedge.

This adjustment aligns with Bitcoin’s core design principle of maintaining a target block time of 10 minutes, directly influencing the projected timing of the next halving event. Per the Clarkmoody dashboard, if the ten-minute average block time is maintained, the halving event could potentially occur on April 21.