The Bitcoin network hash rate reaches 248.11 EH/s.

In just one day, the network hash rate increased by 31.69 percent, from 188.40 EH/s to 248.11 EH/s, ensuring the Bitcoin network’s resilience against attacks.

As of Feb. 12, 2022, the Bitcoin (BTC) network has reached a new all-time high hash rate of 248.11M TH/s, further protecting the decentralised ecosystem through a growing network of worldwide BTC miners.

The hash rate is a measure of how much computational power a miner’s machine needs to confirm a transaction. By discouraging bad actors from approving fake transactions, the recent increase in BTC’s network hash rate offers even more security against attacks.

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In just one day, the network hash rate increased by 31.69 percent, from 188.40 EH/s to 248.11 EH/s, as shown in the screenshot above. Furthermore, the hash rate of the Bitcoin network has increased by 54.33 percent in the last year.

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China’s blanket prohibition on crypto mining and trading has previously raised concerns about the Bitcoin network’s security, since the Asian country accounted for 34.25 percent of total Bitcoin mining hash rate till June 2021.

The Bitcoin network saw a strong comeback after miners sought refuge in other crypto-friendly countries, finally surpassing previous all-time highs.

Currently, miners in the United States contribute the most to the Bitcoin network’s global hash rate, accounting for 35.4 percent.

Industry participants expect the BTC hash rate will continue to rise. Despite the panic caused by the BTC price swings, industry professionals pointed out that the Bitcoin network has become verifiably stronger than it has ever been.

Michael Levitt, co-founder, chairman, and CEO of Core Scientific, that he expects the global hash rate of Bitcoin to continue to rise at a rapid rate. However, he stated that this expansion is contingent on the price of Bitcoin moving forward, as well as the success of the current infrastructure.

 

 

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