Bitcoin hash rate soars, as difficulty to adjust positively on May 31

Quick Take

• The Bitcoin hash rate has reached all-time highs, increasing by 4% in the past two weeks.
• The current hash rate has reached 368 EH/s, demonstrating significant growth in 2023.
• As a result, the difficulty adjustment is expected to be positive tonight, May 31, at roughly 8 PM GMT, and surpass 50T with a positive adjustment of around 3%.
• The Bitcoin network has only seen three negative downward adjustments this year.
• In the past three summer periods, the Bitcoin network experienced a decline in hash rate, shown in purple on the Difficulty Adjustment chart below.

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