The Bitcoin network has witnessed a consecutive surge in mining difficulty during the past three retargets, and now a fourth increase is slated for June 27, 2023. The block generation time, averaging less than ten minutes, indicates that the difficulty is projected to climb by an estimated 2.1% to 2.33% based on the latest statistics.
Bitcoin Mining Difficulty Set for Fourth Increase
In just eight days, the Bitcoin network is poised to readjust the difficulty encountered by miners, and once more, an increase is on the horizon. Over the course of three successive adjustments since May 18, 2023, the difficulty has swelled by 8.8%.
Currently standing at an unprecedented 52.35 trillion, the total difficulty has reached an all-time high (ATH). Coinciding with this milestone, the network’s hashrate also hit a new ATH of 516.61 exahash per second (EH/s) on June 11, at block height 793,868.
Throughout the past 2,016 blocks, the hashrate has maintained a steady average of 382.7 EH/s, while o
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