RATE Group | Bitcoin Hash Rate Hit a New ATH, And It’s Crucial Leading Up to Halving
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Bitcoin Hash Rate Hit a New ATH, And It’s Crucial Leading Up to Halving

19 Jan Bitcoin Hash Rate Hit a New ATH, And It’s Crucial Leading Up to Halving

Posted at 15:45h in Bitcoin News by

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The Bitcoin network hash rate has reached an all-time high at 126 quintillion hashes per second. By comparison, this time last year, the network was hashing at just 38 quintillion hashes per second.

However, of more considerable significance is what this indicates. And that is a trend towards increasing miner confidence. As such, concerns over miner capitulation, in the run-up to the halving, show few signs of credibility.

Bitcoin hash rate

Bitcoin hash rate over 2 year period. (Source: bitinfocharts.com)

Bitcoin Hash Rate Continues To Exceed Expectations

Following Bitcoin’s stellar form of late, news of the network’s hash rate reaching another all-time high should come as no surprise.

Over the weekend, the average daily hash rate peaked at 126 quintillion hashes per second. Putting paid to any notion that miners are cautious about the coming halving this May.

Hash rate is a term that refers to processing power on the network. As Bitcoins get mined, transactions need to be “hashed” before being…

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