The Bitcoin hashrate has reached a new record, an increase of 47.92 percent from January 3, 2021.
Bitcoin hashrate has reached a new record high of 203.5 per second, according to BitInfoCharts data. Bitcoin’s hashrate has increased by 47.92 percent from January 3, 2021, when it was 141.55 EH / s.
The Hashrate of Bitcoin has Reached a New High
The Bitcoin network’s processing power and security have never been higher, and the network hit a significant milestone in early 2022.
Diagram of hashrate On Coinwarz, the BTC hashrate peaked at 209.39 EH / s on January 1, 2022. The hashrate is still at 203 EH / s at the time of writing, while the network briefly hit 224.32 EH / s on Saturday, according to the 30-day stats.
The BTC network hit 194.95 EH / s not that long ago on December 8, 2021. Additionally, it should be noted that Ethereum has also posted an all-time high of 1 Petahash per second (PH / s).
On December 22nd, 2021, the Ethereum network reached 1.0122 PH / s and today’s metrics show the ETH hashrate is still 1 PH / s higher on Sunday.
On January 3, 2021, Bitcoin’s hashrate was 141.55 EH / s, which is 47.92% lower than today’s hashpower stats.
The Mining Difficulty
The entire computer power required for mining new currencies and safeguarding the network is referred to as hashrate.
The hash rate fell to 69.11 EH / s on June 28, 2021, as a result of China’s restriction on BTC miners. As the majority of mining operations have been shifted to other nations, the statistic has increased by 202.98 percent since then.
Foundry USA is the largest Bitcoin mining pool at the time of writing, with 19.45 percent worldwide hash power, or 34.79 EH / s. Antpool, with a 16.91 percent hashrate or 30.25 EH / s, is the second-largest mining pool in terms of worldwide hashrate.
Today, there are just 11 recognized pools mining BTC, while unknown miners account for 3.81 percent of the global hashrate. In the last two years, the difficulty of mining Bitcoin has increased twice.
The difficulty level was upped by 8.33 percent on December 11th and 0.32 percent on December 25th.
The next modification in Bitcoin’s mining difficulty level will push it dangerously near to a new high of 25 trillion dollars. The difficulty is predicted to rise 2.9 percent to 24.98 trillion in the next five days.
The Energy Debate Surrounding Bitcoin
Simultaneously, discussions about Bitcoin’s excessive energy consumption continue.
According to Digiconomist data, the world’s largest cryptocurrency used 134 TWh of electricity, which is comparable to a major economic power like Argentina.
Things Digi does not do:
-Provide context, for example, that Bitcoin’s carbon footprint is similar to cruise ships
-Mention that tens of millions rely on BTC as a humanitarian tool
-Disclose that he works for a central bank
-Share that mining is much greener than most industries https://t.co/nWBh2bX6ck— Alex Gladstein 🌋 ⚡ (@gladstein) January 2, 2022
The alarming result prompted many environmentalists to express their displeasure with Bitcoin mining’s negative impact on the environment.
Cryptocurrency mining, on the other hand, is said to be greener than most industries, according to proponents.
