Public Bitcoin miners are set to increase their ASIC orders significantly in 2024, with an expected surge in hashrate leading to a hefty upward difficulty adjustment in eight days. Analysts at Hashrate Index report that top mining companies have 76.6 EH/s of equipment on order, with 12.9 EH/s for Q1 and 36 EH/s for Q2.
This surge has pushed Bitcoin’s 7-day average hashrate to an all-time high of 659 EH/s, marking a 13.6% increase from its post-halving low. Despite a dip in transaction fee volumes since the halving, the anticipated upward difficulty adjustment is estimated at +5.97%.
Hashrate Index analysts had predicted a rise in hashprice due to stagnant difficulty, increased fees, or higher Bitcoin prices. U.S. miners may slow down in summer, but global miners are expected to offset this, indicating robust hashrate growth ahead.
This development underscores the strategic importance of scaling mining operations to maintain competitiveness in the evolving Bitcoin landscape.
