Bitcoin hashrate hits new all-time high
Despite relatively quiet markets, Bitcoin’s hashrate reaches an all-time high
Bitcoin’s hashrate made it’s biggest jump of the year, from 188.40 exahashes per second (EH/s) to 248.11 EH/s
While the hashrate hasn’t been sustained, Bitcoin’s network is as secure as it has ever been
Bitcoin’s hashrate recorded its biggest jump of the year, soaring it to a new all-time high of 248.11 exahashes per second (EH/s) from from 188.40 EH/s.
The hashrate refers to the total combined computational power allocated by a network of computers called miners which process transactions and add blocks to the blockchain. When there is a high hashrate, the network is more secure.
China, once responsible for the vast majority of the global hashrate, initiated a crypto mining exodus in May last year before banning all crypto activity by September. As a result, the hashrate plummeted, but has since risen by 54% over the past year.
Data from BTC.com suggests Bitcoin mining difficulty is expected to increase by a further 3.2% later this week when the value’s next readjustment happens.
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