Bitcoin’s hashrate has reached an all-time high, increasing network security
The Bitcoin hashrate of the world's first blockchain network showed a growing security, reaching an all-time high.
The Bitcoin network's hashrate — the cumulative total computing power required to maintain the Bitcoin network — reached a new high of 769.8 exahashes per second (EH/s) on October 21.
Hashrate has been stable since 2021, data from BitInfoCharts shows. The growing hashrate is broadly related to developments in mining hardware such as application-specific integrated circuits (ASICs).
Bitcoin network hashrate, all time chart. Source: BitInfoCharts
Bitcoin's hashrate is a sign that the network's security is growing, but it also means that the cost of mining 1 Bitcoin (BTC) is increasing.
Coupled with the 2024 Bitcoin halving and reward reduction, the growing hashrate could lead to an intensification of mining among smaller companies.
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This is a developing story, and more information will be added as it becomes available.
