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Market

Bitcoin hashrate is approaching the record high of 200 EH / s as more and more BTC goes into hibernation

December 24, 2021 - Around 3 mins mins to read

SHA256 miners have maintained a hashrate of over 180 exahash per second (EH / s) after hitting an all-time high (ATH) of 194.95 EH / s on December 8, 2021.

Hashrate refers to the processing power that is specific to mining, and while it cannot be accurately measured, estimates concur that Bitcoin is more attractive to miners, making the network more secure.

Bitcoin hashrate is approaching the record high of 200EH / s as 100,000 BTC become illiquid every month

Hashrate statistics for the Bitcoin network for the whole year. Since June 28, 2021, Bitcoin’s hash power has increased 163% in the last 178 days.

Bitcoin’s hashrate is currently doing much better than it was on June 28, 2021, when network processing performance dropped 63.87% to 69 EH / s following the crackdown by the Chinese government against the mining operation in that country.

The level of difficulty is expected to decrease slightly

Bitcoin price has traded in a range of $ 46,5,000 to $ 49,5,000, and this has kept the hashrate strong – even after the network’s mining difficulty rose by more than 8.33% on December 11th. In fact, the difficulty is likely to decrease by 1.49% for the first time since November 28th. At the time of writing, the difficulty level is expected to drop again (-0.23%), which will reduce the mining difficulty level from its current 24.2 trillion to 24.14 trillion.

Currently, Foundry USA is the largest Bitcoin miner in terms of total hashrate at 29.82 EH / s, which is 17.17% of global hash power. The second largest miner is currently Bitmains Antpool with 25.67 EH / s, which is 14.78% of the global hash power. Viabtc (14.57%), F2pool (13.26%) and Binance Pool (12.17%) follow Antpool. The unknown hashrate hovers around 21.14 EH / s, which is 12.17% of the network’s hashing power and is the sixth largest unit in terms of global hashrate.

More and more bitcoins in hibernation

As Bitcoin magazine reported, there doesn’t seem to be much intention to sell Bitcoin at current prices as miners and owners pile up.

Figures from on-chain analysis company Glassnode confirmed the trend on Jan.

The accumulation phase was triggered by the volatility of China. Other metrics suggest that the positive price development is due to the movement in illiquid supply.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

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Market

Bitcoin hashrate is approaching the record high of 200 EH / s as more and more BTC goes into hibernation

SHA256 miners have maintained a hashrate of over 180 exahash per second (EH / s) after hitting an all-time high (ATH) of 194.95 EH / s on December 8, 2021.

Hashrate refers to the processing power that is specific to mining, and while it cannot be accurately measured, estimates concur that Bitcoin is more attractive to miners, making the network more secure.

Bitcoin hashrate is approaching the record high of 200EH / s as 100,000 BTC become illiquid every month

Hashrate statistics for the Bitcoin network for the whole year. Since June 28, 2021, Bitcoin’s hash power has increased 163% in the last 178 days.

Bitcoin’s hashrate is currently doing much better than it was on June 28, 2021, when network processing performance dropped 63.87% to 69 EH / s following the crackdown by the Chinese government against the mining operation in that country.

The level of difficulty is expected to decrease slightly

Bitcoin price has traded in a range of $ 46,5,000 to $ 49,5,000, and this has kept the hashrate strong – even after the network’s mining difficulty rose by more than 8.33% on December 11th. In fact, the difficulty is likely to decrease by 1.49% for the first time since November 28th. At the time of writing, the difficulty level is expected to drop again (-0.23%), which will reduce the mining difficulty level from its current 24.2 trillion to 24.14 trillion.

Currently, Foundry USA is the largest Bitcoin miner in terms of total hashrate at 29.82 EH / s, which is 17.17% of global hash power. The second largest miner is currently Bitmains Antpool with 25.67 EH / s, which is 14.78% of the global hash power. Viabtc (14.57%), F2pool (13.26%) and Binance Pool (12.17%) follow Antpool. The unknown hashrate hovers around 21.14 EH / s, which is 12.17% of the network’s hashing power and is the sixth largest unit in terms of global hashrate.

More and more bitcoins in hibernation

As Bitcoin magazine reported, there doesn’t seem to be much intention to sell Bitcoin at current prices as miners and owners pile up.

Figures from on-chain analysis company Glassnode confirmed the trend on Jan.

The accumulation phase was triggered by the volatility of China. Other metrics suggest that the positive price development is due to the movement in illiquid supply.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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