The difficulty of mining Bitcoin has been steadily climbing for some time now, as more and more miners compete with one another to be the one to mine the next block on the Bitcoin blockchain successfully.
With the weather now clearing up in Texas, the world’s Bitcoin mining stronghold, miners are coming back online to double down on their operations. This time around, this has pushed the mining hash rate to a new all-time high.
Hash Rate Reaches All-Time High
Over the weekend, the mining hash rate reached a new all-time high. According to info from Hashrate Index backed by data from Ycharts, Bitcoin’s hash rate spiked to 465 EH/s on Saturday from 406 EH/s on the previous day.
Specifically, the 7-day average hash rate hit 401 EH/s on Saturday, while the 3-day average has risen a more staggering 18% to 448 EH/s. Although the hash rate has now dropped to 425 EH/s at the time of writing, it is still at its highest levels and up more than 119.1% from one year ago.
The increase in the
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