Bitcoin Hash Rate Hits New All-Time High
The Bitcoin network’s security and efficiency are now at an all-time high, as the hash rate reached a record level of 791.62 million TH/s, according to Ycharts.
This marks a significant improvement of 73.95% from a year ago. The hash rate has experienced a noticeable increase in the past few weeks, with fluctuations between 574 million and 742 million in early October.
This has led to the hash rate surpassing the 791 million mark, which has remained steady for the past two days.
The surge can be attributed to the development of more advanced mining equipment. The dominance of top US-listed miners, who control almost 29% of the global hash rate, is also contributing to the rise.
According to JP Morgan analysts, 14 publicly-listed American BTC mining firms, including Marathon Digital, CleanSpark, and IREn, have become major players in the global market.
