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Bitcoin Hash Rate Soars to Record High Amid Profitability Plunge
Bitcoin Hash Rate Reaches 540 Exahashes Per Second
On Christmas Day, the computing power of the Bitcoin network, known as the mining hash rate surged to an unprecedented peak. It hits an all-time high of 544 exahashes per second (EH/s), marking a significant milestone. This surge reflects a staggering 130% increase in hash rates since the beginning of the year, showcasing the remarkable growth in the network’s capabilities.
Simultaneously, this surge in hash rates has placed added strain on miners, notably amidst a decline in profitability. Despite the challenges faced by miners, Bitcoin’s price has seen a parallel ascent, mirroring the hash rate’s trajectory. Since the start of 2023, the value of Bitcoin has surged by over 150%, aligning closely with the remarkable rise in the network’s computing power.
To know more, visit: www.coingabbar.com/en/crypto-currency-news/higher-hash-rate-enhance-security-for-bitcoin-network