TechFlow reports that Bitcoin network hashrate has climbed again, approaching the peak levels seen at the end of July. Although the most recent difficulty adjustment decreased by 4.19%, this reduction may soon be offset. According to data from hashrateindex.com by Luxor, Bitcoin's current hashrate is approximately 660 EH/s, only 17 EH/s below the all-time high of 677 EH/s set on July 25, 2024.
With hashrate remaining at elevated levels, block intervals are averaging around 9 minutes and 36 seconds—slightly faster than the typical 10 minutes. This accelerated block production could lead to a difficulty adjustment on August 28 that not only reverses the previous decline but may even push difficulty to a record high of 90.67 trillion.
Currently, Bitcoin's difficulty stands at 86.87 trillion. As hashrate nears historical highs, miners may soon face an upward difficulty adjustment.
