The Bitcoin (BTC) price is not the only metric seeing record numbers as the network hash rate has set a new all-time high.
According to data from Blockchain.com, the estimated seven-day average Bitcoin hash rate is now at about 148 exahashes per second, or EH/s. This figure represents the amount of computing power expended by miners to secure the network every second.
Bitcoin hash rate. Source: Blockchain.com
Tweeting on Jan. 1, on-chain analytics data provider Glassnode revealed that Bitcoin recorded its largest average monthly hash rate of 136 EH/s in Dec. 2020.
ATH: December’s hash rate (136 exahash / s) was the highest in #Bitcoin‘s history so far
— glassnode (@glassnode) January 1, 2021
The current hash rate growth is in keeping with the trend observed since the start of Nov. 2020 which coincides with the beginning of the current bullish advance in the BTC spot price.
At the time, the network was recovering from a