Bitcoin’s hash rate just hit another all-time high. The collective computing power supporting the network now stands at more than 123,011,832 terahashes per second.
Although the hash rate has dropped a few times in Bitcoin’s history, the upwards trend is more pronounced — even than the price of the leading cryptocurrency.

- Firstly, the hardware used to mine the network is constantly increasing in sophistication. The likes of Bitmain now produce hardware units capable of more than 50 TH/s. To put this into perspective, Blockchain.com reports the entire network’s hash rate as being around 10 TH/s in Bitcoin’s early days.
- Another factor behind the surging hash rate is the proliferation of mining operations deploying this new high tech hardware. The rising Bitcoin price over the years has encouraged more firms to deploy hardware on the network. New announcements of mining operations these days, as BeInCrypto has previously reported, are made by massive commercial entities and cost millions to set up. It’s clear from the sheer outlay that those behind such operations are bullish for Bitcoin’s future.
For many cryptocurrency analysts, the rising hash rate represents a significant increase in Bitcoin’s fundamental value. Leading into the Bitcoin halving, they interpret the network’s increased computational power as a sign of an impending bull run.The #Bitcoin hash rate JUST HIT a new ALL-TIME-HIGH!
— The Moon 🌙 (@TheMoonCarl) January 30, 2020
A whopping 123,011,832 TH/s!!!
The $BTC fundamentals are screaming for a huge bull run leading into the halving! 🚀
BULLISH!! pic.twitter.com/HB6JLSy6V0
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Rick D.
A former professional gambler, Rick first found Bitcoin in 2013 whilst researching alternative payment methods to use at online casinos. After transitioning to writing full-time...
A former professional gambler, Rick first found Bitcoin in 2013 whilst researching alternative payment methods to use at online casinos. After transitioning to writing full-time...
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