Bitcoin hash rate slips 8% from all-time high as miners catch a difficulty adjustment break
Quick Take
As per the data analysis, the Bitcoin hash rate is currently hovering at approximately 8% below its all-time high. Looking at the 7-day moving average, we witness a peak of 507 eh/s, which has since dwindled to around 470 eh/s. Intriguingly, this decline in the hash rate has paralleled a drop in the difficulty adjustment, which slipped over the previous weekend, coming very close to being flat.
This easing off in the difficulty adjustment provides a soothing breather for miners grappling with six consecutive positive adjustments. At present, the difficulty level sits at a prominent 67.31T. As we approach the end of 2023, only one adjustment remains to be seen. The year has seen 7 negative adjustments against 19 positive ones. It remains to be seen whether the upcoming final adjustment will tip the scale to 20 positive adjustments for the year.
James Van Straten
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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