Insights

Bitcoin’s hash rate hits record high after difficulty drop

Quick Take

Bitcoin’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.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button