Bitcoin network hash rate surges to all-time high amid sluggish market

Despite the crypto market bleeding, Bitcoin (BTC) network has reached a new all-time high hash rate of 248.11 TH/s on February 12, further protecting the decentralized ecosystem through a growing network of worldwide BTC miners.

The hash rate is a measure of how much computational power a miner’s computer needs to confirm a transaction. By discouraging bad actors from approving false transactions, the recent increase in BTC’s network hash rate offers even more security against threats.

Yearly chart of BTC Hash rate. Source: YCharts

In just one day, the network hash rate increased by 31.69%, from 188.40 EH/s to 248.11 EH/s, as shown in the screenshot above. It is sitting around 209.66 EH/s at the time of publication. Furthermore, the hash rate of the Bitcoin network has increased by 54.33 % over the past year.

Monthly chart of BTC Hash rate. Source: YCharts

China’s actions on crypto mining and trading ban have previously raised concerns about the Bitcoin network’s security since the country accounted for 34.25% of the total Bitcoin mining hash rate till June 2021. 

The BTC network saw a strong comeback after miners sought refuge in other crypto-friendly countries, finally surpassing previous all-time highs. 

Many regions, including Kazakhstan, Russia, and the United States, handled the situation pretty well and retraced the Bitcoin hash rate back to May Highs. As per the research at that time, miners in the U.S. accounted for 35.4% of global Bitcoin hashrate distribution.

Bitcoin seems strong amid low prices

According to the reports, the industry participants expect that the BTC hash rate will continue to rise. Despite the panic caused by the BTC price swings, experts pointed out that the Bitcoin network has become verifiably stronger than it has ever been. 

Recently in January, as TheCoinRise reported, the Bitcoin network difficulty also witnessed an all-time high of 26.643 trillion amid low prices.