September 21, 2023

Bitcoin hash updated historic high

The total processing power of the Bitcoin network has updated the historical maximum. On the first day of spring, she rose to 136.264 EH / s.

Bitcoin hash updated historic high


After growing by about 60% over the past year, in January-February, the hash rate was at the level of 100-110 EH / s.

Significant Growth Has Been Certainby surprise. In late January, due to the spread of the coronavirus epidemic in China, the largest manufacturers of mining equipment stopped working and postponed deliveries.

In some areas of the country, authorities undertookattempts to close bitcoin farms due to quarantine. Restrictive measures did not give miners the opportunity to send out failed ASICs for repair. According to CoinShares, the share of Chinese miners in the hashrate of the first cryptocurrency at the end of 2019 was 66%.

But in mid-February, the sales directorMicroBT (trademark of Whatsminer) said that production has begun and logistics is partially available. A sudden jump in the hash rate suggests that the supply of ASIC miners was at least partially resumed.

Recall that in the fall in the secondary market fell sharplyprices for the once-popular ASICs, including Bitmain's Antminer S9 lineup. Experts explained this by updating the equipment in anticipation of the halving - after it, old models will become unprofitable.