The Hashrate of Bitcoin has reached a new high


Bitcoin’s hashrate has reached a new record high of 203.5 exahashes per second. Of course, according to BitInfoCharts data, making the network the strongest it has ever been.

The entire computer power for mining new currencies and safeguarding the network is Hashrate.

The difficulty of mining bitcoin is likely to rise to 24.98 trillion by the end of the week. That’s, barely a hair’s breadth away from the 25 trillion threshold set in May before the China ban. The difficulty of mining is adjusting every two weeks dependent on the hashrate of Bitcoin.

The more the network becomes full, the more coins are come to existance. Then, necessitating a positive adjustment in order to avoid overproduction (and vice versa).

Following the departure of miners from China sparked by the government’s ban on cryptocurrency mining on July 3. Then, the Bitcoin difficulty dropped by a record-breaking 27.94 percent.

The network’s hashrate dipped to a local low of 58.4 exahashes per second on June 20. Although it quickly recovered thanks to Chinese miners migrating to other countries like Kazakhstan and Russia.

The United States surpassed China as the world’s largest Bitcoin mining hub in October.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul