Following the network difficulty change six days ago on September 27, Bitcoin’s hashrate surpassed the 295 exahash per second (EH/s) range two times during the first two days of October. Presently the network is coasting along at 229 EH/s and block intervals have been faster than the ten-minute average, which means another upward difficulty adjustment is likely in the cards. With Bitcoin’s mining difficulty looking as though it will reach another all-time high (ATH), the network’s hashrate has increased exponentially from six million hashes per second to the recent two hundred ninety-five quintillion hashes per second.
Bitcoin’s Network Hashrate and Difficulty Continues to Rise
Bitcoin’s computational power is a whole lot stronger than it was 13 years ago. The network’s mining difficulty reached an all-time high just recently on September 13, 2022, at block height 753,984.
The height the mining difficulty reached was approximately 32.05 trillion hashes and it’s a high probability that the network will see an upward adjustment on or around October 11, 2022. Statistics show that the difficulty retarget could be anywhere from 4.22% higher to 10.7%.
