Monday, January 17

Starting off on the right foot: Bitcoin hash rate opens January with new all-time high


Key facts:
  • 209.9 EH / s is the official hash rate for Bitcoin, according to figures from Glassnode.

  • The reasons for the rebound may be due to the entry into operation of new miners.

Starting the year on the right foot. The Bitcoin (BTC) mining hash rate broke a new all-time high, surpassing for the first time the 200 exahashes per second (EH / s) reached a few weeks ago.

This is how the Company of blockchain analysis, Glassnode, which denotes that the hash rate of the first cryptocurrency on the market is, at the close of January 1, 2022, at 209.9 EH/s.

This comes three weeks after the processing power set what until then was the all-time high of 198 EH / s, breaking the levels seen in the first days of May, before China banned the activity.

It should be remembered that a higher hash rate is translatable as a greater number of connected miners and, therefore, more competition.

The reasons for the rebound in the hash rate may be given by the migration of miners from China to other latitudes, as well as the entry into action of new mining equipment, like the Antminer S19 Pro, from the Bitmain company.

In CriptoNoticias we report today the experience of Thailand, a country where several investors took advantage of the Chinese blockade to put into operation the machines that the Chinese miners had to resell in order to get their money back.

This places Thailand as another epicenter for BTC mining, joining the United States, Kazakhstan, Russia, Canada and some Latin American countries.

The hash rate of Bitcoin mining started in 2022 marking an all-time high / Source: Glassnode.

Bitcoin imparable

The news of the ATH in the Bitcoin hash rate was well received among the community. Anthony Pompliano, one of the biggest enthusiasts in the market, celebrated on Twitter the feat.

Bitcoin’s hash rate opened in 2022 upon reaching a new all-time high. The decentralized network has never been more secure, “he explained in his account.

The tweeter @808BTC, stated that the Bitcoin network “is resilient and proven even under attack from the world’s second largest economy, China.” ‘Bitcoin has returned to the same hash rate as before the attack. States / nations have no power to stop Bitcoin, “he said.

While it is common for the hash rate to fluctuate in response to the price of the first cryptocurrency on the market, this is not necessarily the case at this time. The hash rate marked an ATH, but BTC trades above $ 47,000, according to the CriptoNoticias Price Calculator.

However, the new year is starting and a bull market is likely to be seen, according to the opinion of three specialists who were consulted by CriptoNoticias.

So, the current behavior of the hash rate gives a good feeling of what may be to be seen in the pioneering cryptocurrency and the entire market in this year that is just beginning.





www.criptonoticias.com

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