- Bitcoin hashrate increased nearly 5% in a day, reaching 913.63 EH/s, showing miners are more active.
- Higher hashrate means more computers are keeping Bitcoin safe, even after lower mining rewards.
- Bitcoin’s price is $94,994.16, up slightly, with high trading volume showing strong interest.
Bitcoin’s network became much stronger recently. The Bitcoin hashrate increased to 912.94 exahashes per second (EH/s), as per Bitinfocharts. That’s nearly 5% higher in a single day. It indicates that Bitcoin miners are continuing their efforts with confidence in the network’s long term value.
Bitcoin Hashrate
The Bitcoin hashrate is the amount of computer power that is utilized to secure Bitcoin and keep the transactions operational.
An increased hashrate indicates more computers are contributing to keeping the network secure and immune to being controlled. It also indicates that miners believe Bitcoin is worthwhile for them to invest their money and time in.
Why the Network Is Growing
Over the past three months, the Bitcoin hashrate has remained predominantly over 800 EH/s. A couple of times, it even crossed 1,000 EH/s, a record high.
This recent rise could be indicative of miners utilizing improved or new computers despite receiving less reward following a major Bitcoin event known as the halving. Alternatively, it may be indicative of miners adding more computers to accomplish more.
The Bitcoin hashrate does not affect Bitcoin’s price straight away, but it’s typically a positive sign. Currently, Bitcoin is $94,994.16, a little higher by 0.16% over a day, reports CoinMarketCap.
The volume of Bitcoin bought and sold decreased by 16.18%, and it currently stands at $25.21 billion. The price fluctuated a bit but closed slightly higher. Despite lower trades, the high volume indicates that people are still fond of Bitcoin.
The greater Bitcoin hashrate implies that miners are remaining with the network and not dumping their Bitcoin in a rush. This may indicate that they believe Bitcoin to be valuable and important.
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