Bitcoin hash rate teased previous all-time high

Team Luno
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1 minute read

What

Bitcoin’s hash rate has surged to over 184 exahash per second (EH/s) and was heading towards all-time highs.

Why

The surge in hash comes off the back of the much-anticipated first Bitcoin ETF debuting on the New York Stock Exchange, as well as a record-breaking October for Bitcoin.

What next

The hash rate has pulled back slightly to sub 180EH/s levels amidst a micro crash across the market.

The story

Bitcoin’s hash rate, which is the total combined computational power that is being used to mine and process BTC transactions, crept toward previous highs last seen in May.

The hash rate surged to over 184 exahash per second (EH/s) as mining devices have been far more profitable during this time of high BTC prices. This has also allowed older generations of mining devices to continue making profits.

Following its peak of 184 EH/s, the hash rate has since fallen to sub 180 EH/s levels.

In addition to BTC’s uptick in hash rate, Ethereum, the second-largest crypto asset by market cap Ethereum, also had its hash rate soar to fresh highs.

Keen to learn more about hash rates? Take a look at this.

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

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