The growing Bitcoin hashrate and block reward reduction from the Bitcoin halving could lead to miner consolidation among smaller firms.
The Bitcoin hashrate has reached a new all-time high, showcasing the growing security of the world’s first blockchain network.
The Bitcoin network hashrate — the sum total computing power securing the Bitcoin network — reached a new all-time high of 769.8 exahashes per second (EH/s) on Oct. 21.
Hashrate has been in a steady uptrend since 2021, BitInfoCharts data shows. The growing hashrate is widely correlated with developments in mining hardware like application-specific integrated circuits (ASICs).
