On-chain data shows the Bitcoin mining difficulty has risen by 4% recently as the mining hashrate has approached all-time high (ATH) levels.
Bitcoin 7-Day Mining Hashrate Is Back Near ATH Levels
The “mining hashrate” refers to the total computing power that the miners have connected to the Bitcoin blockchain. This metric correlates with the network’s security.
To perform a successful 51% attack on the network, bad actors must gain control over at least 51% of the online mining rigs. When the hashrate goes up, the security naturally strengthens, as there are now more machines that an attacker needs to succeed.
Of course, this is only true if the new power being added to the network is properly decentralized. If the hashrate is centralized, the network risk may not decrease by the same degree if more power is added.
The hashrate also provides a look into the demand for mining cryptocurrency. Growth suggests that miners find the network attractive, while a decline impli
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