Bitcoin (BTC) $96,525.2has surpassed a historic threshold in hashrate, which indicates the total computing power of the network. According to data provided by CoinWarz, Bitcoin’s hashrate reached the level of 1 zetahash/second for the first time at around 02:00 CET on January 2. This milestone reached shows that the network has moved to a new level in terms of security and resilience.
Increasing Despite Fluctuations in Mining Revenues
Bitcoin in April 2024 block reward halving led to a drastic decline in mining revenues. Mining revenue, which was approximately $2 billion in March before the block reward halving, dropped to $815 million in September. This decline put many miners under economic pressure and in July hashrate It decreased to 521 EH/s.
However, the hashrate recovered in a short time. It reached 844 EH/s on October 21 and continued to increase throughout the year, reaching a record high. Increase in hashrate Bitcoin networkIt is very valuable because it means that the process security and durability of the process increases.
The Increase in Hashrate Also Reflected in Mining Difficulty
The increase in hashrate is not surprising mining difficultyIt was also reflected in . Bitcoin’s mining difficulty recently reached a new record high of 109.78 trillion. This level is expected to exceed 111 EH/s with the next difficulty adjustment on January 12.
Research shows that there may be a direct relationship between hashrate and the price of Bitcoin. biggest in December cryptocurrencyThe price of has surpassed $100,000 for the first time and is currently trading above the $96,000 threshold.
The record in Bitcoin’s hashrate is both mining industryIt continues to have a wide impact both in Turkey and in the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
