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Sunday, November 27, 2022

Bitcoin Hashrate Explodes 30% in a Day to a New All-Time High

Despite the ongoing geopolitical uncertainty and economic turmoil throughout the world, Bitcoin’s network continues to get more robust. Following a recent spike, its hashrate reached yet another all-time high.

  • It goes without saying that there’s a lot of economic turmoil and geopolitical uncertainty as international tension surrounding the relationship between Ukraine and Russia intensifies.
  • Meanwhile, market participants are eagerly anticipating hinted rate hikes as inflation numbers keep getting higher.
  • As CryptoPotato reported earlier this week, the Consumer Price Index in the United States clocked in at 7.5%, exceeding expectations.
  • Amid all this, Bitcoin’s network keeps getting more robust.
  • Data from BlockchainCom reveals that from February 11th to February 12th, the hashrate spiked by as much as 31%.
  • The estimated number of terahashes per second the BTC network performs in the last 24 hours currently sits at 248.11 million per second – a new all-time high value.
Bitcoin’s Hashrate. Source: BlockchainCom

 

  • It’s worth noting, though, that these are raw values. The 7-day average is not at an all-time high, although the 30-day average is.
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