The hash rate of BTC hit a record high of 544 exahashes per second (EH/s) yesterday.
The announcement follows a 130% increase in network hash rates since January.
The computing power of the Bitcoin network, often known as the mining hash rate, hit a new record high recently. However, with profitability taking a nosedive, miners are feeling the heat.
According to Blockchain.com, the hash rate of Bitcoin hit a record high of 544 exahashes per second (EH/s) on December 25. The information was validated by Bitinfocharts, which noted a weekend high in the average hash rate.
The announcement follows a 130% increase in network hash rates since January, which has more than doubled this year. In late November, network hash rates initially surpassed the 500 EH/s milestone.
Profit Shrink
The price of bitcoin has climbed by almost 150% since January 1, 2023, which is almost in line with the figure showing the growth of bitcoin hash rates. Theoretical pricing models, such implied hash-adjusted pric
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