Bitcoin’s hashrate has reached a new milestone, surpassing 1,000 exahashes per second (or a zetahash per second) for the first time. This data was provided by CoinWarz and was achieved on Jan. 2 around 23:00 UTC.
The growth of Bitcoin’s hashrate has been remarkable over the past few years. Just a year ago, it stood at 173 EH/s. In the last year alone, it has surged from 588 EH/s to a zetahash.
After the Bitcoin halving in April, there was a dip in hashrate as some miners struggled with lower block rewards. Despite this, the hashrate bounced back from a low of 521 EH/s on July 18 to a high of 844 EH/s on Oct. 21.
This increase in hashrate indicates that the Bitcoin network has become more secure and resilient. As mentioned in a previous article by U.Today, the mining difficulty has also reached a new record peak of 109.78 trillion. The upcoming difficulty adjustment on Jan. 12 is expected to be positive, with mining difficulty likely surpassing 111 EH/s for the first time.
Recent research has shown a correlation between Bitcoin’s hashrate and price. Both factors could influence each other, with Bitcoin’s price recently hitting $96,675 and surpassing the $100,000 mark in December.