2024-09-04
The Bitcoin network hashrate has
reached a new all-time high, surpassing 742 exahashes per second (EH/s) on
September 1, 2024.
This milestone reflects the total
computing power securing the Bitcoin network, indicating strong confidence in
its long-term sustainability and security.
Despite the increase in hashrate,
Bitcoin prices have been declining, highlighting a disconnect between
short-term pricing and long-term network health.
This surge in hashrate is driven by
advancements in mining technology and the deployment of more powerful mining
rigs.
Bitcoin hashrate has been increasing
since 2021.
When the network hashrate increases,
miners will need more powerful mining rigs. Increase in Bitcoin hashrate reduces miner revenue.
