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Bitcoin hash rate increased again despite the market correction

Bitcoin hash rate increased again despite the market correction

Bitcoin hash rate showed growth despite the deep correction of the cryptocurrency market, incited by the collapse of the stock markets. If a decade ago, the Bitcoin network hash rate was 168 EH/s, then at the end of last week, it increased by 7.73% to 182 EH/s, ignoring the price drop of the oldest cryptocurrency below $50,000.

So far, this growth has not yet reached the record high of 197.60 EH/s hit on May 13 but still gave a positive signal to the market, proving that miners are not going to slow down in bitcoin mining.

Despite the market downturn, one of the factors that positively affected the hash rate growth was the decrease in the difficulty of the network's mining following the last correction on November 28. On that day, a 1.49% decrease in BTC mining difficulty was recorded for the first time since July 17. The current difficulty is almost 22.34 trillion.

Given the current mining rate, the next difficulty is expected to increase by 4.9%, reaching a possible 23.43 trillion, with the following difficulty correction scheduled for December 11, 2021.

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