Cryptocurrency

Bitcoin hash rate surges 17% to touch ATH before falling back

Hull Invest

Bitcoin (BTC) hash rate It jumped 17% on Jan. 6 from a record of about 233 EH/s recorded on the same day to a record high of 361.28 EH/s.

It has since returned to 269.56 EH/s as of this writing.

bitcoin hash rate
Source: Glassnode

in the past week, data It shows that Foundry USA contributed 29.08% of the total hashrate, Antpool 20.38% and F2Pool 16.12%.

MacroMicro also suggested that the average cost of mining BTC is higher than the asset’s spot price.by datathe average BTC mining cost as of January 7 was $19,230.

Since BTC’s hash rate dropped at Christmas, the network has added 1 in 50. Hashrate plummeted by around 40% during the festive period amid severe weather that forced major miners to shut down operations.

On the other hand, the increase in BTC hashrate is expected to increase mining difficulty by 7% to 10%.

BTC mining difficulty is currently 34.09T. The estimated increase raises the mining difficulty from 36.6T to 37.7T. Bitlow.

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