Quick Take
Bitcoin’s network witnessed a remarkable event on Friday, as the hash rate surged to a peak of over 500 exahashes per second (eh/s) from the previous day’s figure of 400 eh/s.
This uncommon increase constitutes the single largest one-day augmentation in hash rate that the Bitcoin network has ever experienced. This upswing in hash rate typically observed using a 7/14-day Simple Moving Average (SMA), resulted in a consequential increase in network difficulty by over 5%.
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