Crypto News – The mining hash rate, or computational power of the Bitcoin network, hit a record high on December 25 but has since declined in profitability, increasing the strain on miners.
Bitcoin Hash Rate Hits Over 540 Exahashes Per Second
Blockchain.com reports that on December 25, Bitcoin’s hash rate hit a record-breaking 544 exahashes per second (EH/s). Bitinfocharts, which showed an average hash rate surge over the weekend, verified the data. It occurs at a time when network hash rates have increased 130% since January, more than double this year.
Hash Price Begins to Fall
Miners that have to put in more effort to secure the next block will not benefit from a high hash rate; instead, it may be advantageous for theoretical price models like implied hash-adjusted price. Using a logarithmic scale, co-founder of Reflexivity Research Will Clemente examined the hash rate and made observations.
The summer 2021 China mining ban is barely a blip. Imagine fading the most secure decentralized open-source monetary network on the planet, couldn’t be me.
Clemente
As the BRC-20 ordinal inscription frenzy subsided over the previous week, the hash price—a gauge of profitability—has decreased. According to HashrateIndex, the hash price is presently $0.09 per terahash per second per day.
Leave a comment