-->
bitcoin

Bitcoin Hashrate hits a new all-time high and difficulty is also expected to rise

Bitcoin Hashrate hits a new all-time high and difficulty of the flagship currency is expected to rise. The processing power of BTC has reached 219.68 exahash per second (EH/s) breaking the previous record of 219.5 EH/s.

Bitcoin Hashrate hits a new all-time high:

As the number of BTC left to be mined are decreasing, the processing power needed to mine a BTC is also increasing. Bitcoin hashrate hits a new all-time high reaching a peak of 219.68 EH/s. The previous ATH of the BTC’s hashrate was 219.5 EH/s. At the press time, BTC hashrate is hovering around 199 EH/s. Bitcoin difficulty is also expected to increase within the next few days that would need extra power to mine the flagship currency.

Bitcoin Hashrate hits

The rise follows the recent drop in hashrate that happened while citizens of Kazakhstan revolted against the government and the internet was temporarily shut off in the country. It was widely speculated that the hashrate dropped 15% because of the issues in Kazakhstan but miners in the region claimed this was not the case. Data from Coinwarz indicated at the time that BTC’s price drop and mining difficulty increase contributed to the 15% loss in hashrate.

Bitcoin Hashrate hits

As Bitcoin hashrate hits a new ATH, the difficulty adjustment is expected next week. If the difficulty increases, the difficulty of the BTC will also hit a new ATH. The next difficulty change is expected to happen in just over 5 days from now and estimates indicate it might rise 3.83% higher than it is today. If it does rise to that point and reaches 25.31 trillion, Bitcoin’s mining difficulty will reach another lifetime high.

Read more content here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Check Also

Metaverse

SHIB Write Rate Up Nearly 408% with Community Stream of New Metaverse Hub

What's in this article1 165 million SHIB burned and destruction increased by 408%2 Burn “trillions …

Leave a Reply

Your email address will not be published.