Quick Take
On Nov. 12, the Bitcoin difficulty underwent another upward adjustment of 3.5%, marking the fifth consecutive rise in a row similar to the trend observed from February to April. Now at an unprecedented 65T, the Bitcoin difficulty mirrors the continuous surge in the hash rate.
Over a 7-day moving average, the hash rate teeters around its all-time high at about 450 eh/s. However, when inspected daily, the hash rate has shown an even more robust performance, exceeding 500 eh/s. This consistent climb in the hash rate and difficulty underlines an increasing fortification of the Bitcoin network.
As the network prepares for the halving event, these developments suggest a record level of security. The increasing difficulty and hash rate signifies a robust computing power dedicated to processing Bitcoin transactions, enhancing the network’s resistance to potential threats.
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