Bitcoin Hash Rate Hits All-Time High
BTC’s price had dropped but is climbing back towards $10k so never mind any negative press you may see this morning…BTC’s hash rate has hit an all-time high!
“Hashrate, which reflects the processing power of the Bitcoin network, reached almost 103 trillion ‘tera’ hashes per second. It showed that more miners are employing their computers to create and “hash” a block of verified transactions before adding them to the ever-growing string of blocks, called blockchain. In simple words, miners saw profits while verifying and validating transactions on the Bitcoin blockchain. It, in turn, prompted them to increase their operational expenditure (typically, electricity input) on the network.”