[Newsflash] Bitcoin’s Hashrate is Now at its All Time High of 65 Quintillion Petahashes Per Second
- This latest surge in Bitcoin’s Hashrate is being attributed to newer regions (such as Venezuela, Iran) entering the crypto mining sector.
- It is estimated that $20 Billion worth of BTC, BCH, ETH and LTC make their way into different wallet addresses on a daily basis.
As per statistical data available online, Bitcoin’s hashrate has now surged to it's all time high of 65 quintillion.
As can be seen from the chart presented below, this is the first time in over in nearly 9 months that Bitcoin’s hash rate has stayed above the 60,00,000 TH/s mark on a consistent basis.
Bitcoin Hashrate Chart (Courtesy: TrustNodes)
In terms of this latest spike, a lot of experts are of the opinion that due to Bitcoin’s ongoing price rally, some older mining rigs might have once again become profitable (and therefore could have possibly rejoined the network).
Not only that, the ever increasing efficiency of asic miners might have also had some role to play in this increased hash rate scenario.
Key Stats Worth Pointing Out
This aforementioned increase in mining activity has resulted in a whopping total of $17 billion (worth of BTC) being moved across the globe over the course of the past 24 hours.
Another study has shown that around USD $1 Billion worth of Bitcoin moves between various wallet addresses (located around the globe) on an hourly basis.
To prevent issues such as double spending from taking place, more hashing power is required. Thus, BTCs latest hash rate surge could partially be attributed to that as well.