Sunday, May 5, 2024

Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s

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The Bitcoin (BTC) community has recorded a brand new hash price all-time excessive of 248.11M TH/s as of Feb. 12, 2022, additional securing the decentralized ecosystem via a rising community of worldwide BTC miners. 

The hash price correlates to the computing energy required by a miner’s pc gear to verify a transaction. The current spike in BTC’s community hash price ensures additional safety towards assaults by deterring unhealthy actors from confirming fraudulent transactions.

Bitcoin hash price over the previous yr. Supply: YCharts

As evidenced by the above screenshot, the community hash price jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in simply sooner or later. Furthermore, the Bitcoin community’s hash price ranges rose 54.33% over the previous yr. 

Bitcoin hash price over the previous one month. Supply: YCharts

Beforehand, China’s blanket ban on crypto mining and buying and selling led to considerations concerning the safety of the Bitcoin community, because the Asian nation contributed to 34.25% of the whole Bitcoin mining hash price till June 2021. 

With miners finally discovering refuge in different crypto-friendly international locations, the Bitcoin community noticed a pointy restoration — finally surpassing the earlier all-time highs.

Bitcoin mining by nation. Supply: ccaf.io

At present, the miners residing in the USA contribute the very best when it comes to the worldwide hash price of the Bitcoin community, 35.4%. 

Associated: Bitcoin miners imagine international hash price to develop ‘aggressively’

A current Cointelegraph evaluation from January concluded that the trade gamers imagine that the BTC hash price will proceed to develop. Regardless of the traders’ panic induced by the BTC value roller-coaster, trade specialists identified that the Bitcoin community has develop into verifiably stronger than ever earlier than.

Michael Levitt, co-founder chairman and CEO of Core Scientific, instructed Cointelegraph that he absolutely anticipates for the BTC international hash price to proceed rising at an aggressive tempo. Nonetheless, he talked about that this development depends on the value of Bitcoin transferring ahead, together with the success of the infrastructure presently being constructed.