Bitcoin Hash Rate at Near All-Time High despite Rising Mining Difficulty

Bitcoin Hash Rate at Near All-Time High despite Rising Mining Difficulty


The Bitcoin hash rate is trending at near all-time highs, per on-chain data on January 20, 2023.

Bitcoin Hash Rate at 274 EH/s

According to streams from BitInfoCharts, the Bitcoin network currently has a hash rate of 274 EH/s, up by almost one percent in the past 24 hours. Even at this pace, the hash rate is down from January 16 highs of 302 EH/s.

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Hash rate is the measure of computing power dedicated to BTC mining. As a proof-of-work platform, the Bitcoin network depends on a community of node operators using Application Specific Integrated Circuit (ASIC) gear for block confirmation and security.

ASICs are special nodes explicitly designed to mine cryptocurrencies in proof-of-work networks using, among others, the SHA-256 consensus algorithm. ASICs that can

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