OnOctober26,Bitcoin’shashratesoaredtoanewpeakof741EH/s.Justaweekearlier,onOctober19,ithoveredaround676EH/s,reflectingagainofover65EH/sinthattime.Additionally,thislatestpeakrepresentsasurgeofmorethan16%overthepastmonth,climbingfrom638EH/sonSeptember26.
Bitcoinhashratepeaks,growingbyover9.6%injustoneweek
AccordingtoHashrateIndexdata,BTC’scomputingpowerhitanewhighof741EH/sonOctober26.Thisnewhighrepresentsa9.6%spikeinaweekanda16.6%surgeinamonth,addingover103EH/sfromSeptember26.
Source:HashrateIndex
Furthermore,YChartsdataindicatesthatBitcoin’shashratevaluewasat727.66milliononOctober25,risingfrom699.12millionthepreviousdayandupfrom455.08millionayearearlier.
SomehaveattributedtheriseinBTC’shashratetotheuseofmoreadvancedminingequipmentandfundingadvantages,evenasthetopU.S.-listedBitcoinminerscontrolnearly30%oftheglobalnetworkhashrate.
ResearchanalystSamWouterspredictedthatBitcoinmightbeenteringitsZettahasherainMarch2023,whenthehashratefirstroseto400EH/s.Atthetime,heestimatedthatifthehashratemaintaineditsgrowthrate,theleadingcryptowouldreachaZettahashbytheendof2025.Currently,thehashratelevelsalignperfectlywithhisprojections.
Bitcoinminingdifficultyisstillontherise
AccordingtoCoinwarzdata,thecurrentBTCminingdifficultystandsat95.67trillionatblock867,462,markinganalmost4%jumpinjustaweekanda17%spikeinthreemonths.Moreover,theBTCnetworkisclosetoitssubsequentdifficultyadjustment,whichisestimatedinjustninedayswhenthedifficultyisexpectedtoriseto98.8trillion.
However,evenwithBitcoinmining’sescalatingdifficulty,BTCminersarestillgeneratingmillionsofdollarsfromminingactivity.AsofOctober25,Bitcoinminersearnedover$34million,thoughthisrepresentsaslightfallfromOctober20’s$38.38million.
Currently,theleadingcryptoistradingat$67,240continuinganimpressivesix-weekpricerally,witha0.89%jumpinthelast24hours.
cryptopolitan.com