according to Bitcoin Magazine ProBitcoin’s seven-day average mining hashrate hit an all-time high on July 26, surpassing 667 exahash/second (EH/s). Bitcoin 2024 ConferenceThis surpasses the previous record of 657 EH/s recorded on May 26th.
of Hashrate It refers to the amount of computing power miners devote to processing transactions and mining new blocks on the Bitcoin blockchain. The higher the hash rate, the greater the competition between miners to validate blocks, making the network more resistant to manipulation and attacks.
Selection subjects mining Companies like Whatsminer and MicroBT are rolling out new, more powerful machines in an attempt to capitalize on the sudden increase in hashrate: Whatsminer announced four new mining rigs and a soon-to-be-released solar mining container system, while MicroBT unveiled the M6XS+ miner, capable of handling 190-450 terahashes.
Riot Platforms also acquired Block Mining for $92.5 million to expand its hashrate and market reach. Miners are exploring AI integration and acquisition opportunities to navigate ongoing identity challenges.
Rising Bitcoin prices have increased miner revenues, easing selling pressure and stabilizing network activity: Miner outflows have remained below $10,000 per day in July, down from over $20,000 in March, when BTC first hit $70,000.
whole, Bitcoin hash rate rises This is a sign of confidence in its long-term viability: Major innovations in mining and a favorable political climate have led to increased revenues, and miners are aggressively expanding their infrastructure to process transactions and secure the Bitcoin network.
