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Bitcoin hashrate increases more than 32% in 3 months

written by Bella Palmer
bitcoin-hashrate

Bitcoin’s hashpower has climbed above the 160 EH/s zone nine times since July 25 and over 180 EH/s once so far

Bitcoin’s hashrate has been increasing a great deal during the last three months, as it’s increased over 32% from 103 exahash per second (EH/s) on July 25 to today’s 137 EH/s, with a few highs in between around the 189 EH/s mark. Bitcoin’s price spike has pushed the hashrate higher and in a week’s time, the overall mining difficulty is expected to increase for the eighth time in a row.

As bitcoin’s price is still more than 30% higher during the last month, even after the fall below the $60K region, the network’s mining power has increased a great deal. Three-month statistics show that Bitcoin’s hashpower has climbed above the 160 EH/s zone nine times since July 25 and over 180 EH/s once so far.

At that time three months ago, BTC’s hashrate was steadily recovering from the bitcoin mining crackdown in China and the mass migration that followed. The hashrate and bitcoin’s spot price was much lower three months ago, as the network’s processing power was hovering just above 100 exahash per second.

The network’s security and processing power increased 32% since then as the price lift has made it so miners are far more profitable than they were in late July. On October 24, with 137 EH/s dedicated to the Bitcoin blockchain, and the current BTC exchange rate, gives most mining rigs the ability to rake in profits.

Today, the largest mining pool dedicating hashrate to the Bitcoin (BTC) network is F2pool with 17.56% of the network’s hashpower or 26.31 EH/s. F2pool is followed by Antpool’s 17.11% or 25.65 EH/s, Viabtc’s 12% or 17.98 EH/s, and unknown hashrate, otherwise known as stealth miners, command 12% as well or 17.98 EH/s as well.

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