The massive growth in hash rate has some speculating on who’s behind such a sizable increase, plus an update of public bitcoin miners.
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Hash Rate On The Move
The Bitcoin network hash rate is on the move this year, now at an all-time high of 350 EH/s and up 36.7% YTD. Hash rate has been following the surge in price, which is the likely result of more machines coming online at a more profitable price point. In 2022, there was a lot of unused, newer inventory of ASICs that sat idle at lower bitcoin prices and have now made their way onto the network as public miners continued to expand, most noticeably in companies like Marathon Digital Holdings, Riot Platforms and Cipher Mining Technologies.
The surge in hash rate is a resul
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