Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks.
Bitcoin Difficulty Takes a Dip After Five Straight Increases
Bitcoin’s difficulty level finally dropped on May 4, 2023, after increasing five times since the February 24 increase of 9.95%. The five difficulty increases combined equated to a 22.62% increase, and the latest drop brings it down 1.45% lower. The change occurred at Bitcoin block height 788,256. At the time of writing, the network’s hashrate is 355.90 exahash per second (EH/s).
Just two days ago, the Bitcoin network hit a major milestone as its hashrate soared to an all-time high of 491 EH/s at block height 787,895. But with the next difficulty adjustment just around the corner on May 18, 2023, and
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