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.
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.
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.
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