Bitcoin Mining Difficulty Poised to Break 50 Trillion Barrier, May 31 Projection Shows

Bitcoin Mining Difficulty Poised to Break 50 Trillion Barrier, May 31 Projection Shows

Despite an upswing in mining difficulty on May 18, current data projects Bitcoin’s mining difficulty to see a further escalation on May 31, 2023—potentially jumping between 1.1% and 2.51%.
Bitcoin’s Difficulty Nears 50 Trillion Milestone
Bitcoin’s mining difficulty, already at an unprecedented level of 49.55 trillion, seems poised to breach the 50 trillion threshold within five days. Although the process of mining bitcoin (BTC) has become increasingly challenging, the hashrate has maintained an average rate of 364 exahash per second (EH/s) during the last 2,016 blocks. As of May 26, 2023, the hashrate hovers around 367.29 EH/s based on a 24-hour analysis.
On May 2, 2023—a noteworthy event in Bitcoin’s lifetime—its hashrate reached a historic high at block height 787,895 with an impressive figure of 491.15 EH/s. The network’s hashrate spiked again in mid-May to reach 453 EH/s and today, it achieved a peak of 427 EH/s. Block intervals have hastened, and the most recent b

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