Bitcoin's seven-day moving average hash rate has surpassed 700 EH/s for the first time, marking a 13% increase since April's halving. The network's hashrate reached an all-time high of 703 EH/s, with publicly traded miners contributing nearly 29% of this total, translating to over 200 EH/s. Among the top miners increasing their share are CleanSpark, MARA Holdings, Riot Platforms, and IREN. Meanwhile, the hashprice has jumped to $50 PH/s, the highest in two months, driven by an increase in transaction fees and Bitcoin's price, which recently rose above $68,000. This surge in hashrate and profitability signals a difficult environment for weaker miners, who may need to exit the network as energy costs rise and rewards diminish. The upcoming difficulty adjustment is set to increase by over 4% on October 23, ensuring that Bitcoin blocks are mined consistently every 10 minutes as the network evolves.

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