Bitcoin’s hash power reached an all-time high after cryptocurrency returned to $ 41,000 According to data provided by the cryptocurrency firm CoinMetrics, the seven-day average of Bitcoin’s hash power broke the record at 156.51 exahash (EH / s), an all-time high.

 

 

The largest cryptocurrency network in the world has grown 40 percent stronger since last February, when the total mining power was 110 EH / s.

Bitcoin’s difficulty is set to an all-time high

On February 6, Bitcoin’s mining difficulty also increased by 2.93 percent to an all-time high of 21.43 trillion, recording its third consecutive positive adjustment.

The metric is adjusted approximately every two weeks to ensure that the block production time does not deviate too much from the standard 10 minutes.

In particular, the difficulty of Bitcoin is predicted to increase by 2.88 percent again within two weeks. If such a situation occurs, it will be the first since 2020 and the cryptocurrency will have made four positive adjustments in a row.

 

Miners earned record income

The new peaks coincided with Bitcoin recovering the $ 40,000 level for the first time since January 14.

The fast-growing hash power means it’s economically viable to issue cryptocurrencies at current prices. On February 5, Bitcoin miners set a new daily record, with revenue of $ 45.67 million.

See Also
Bitcoin At All-Time High With $ 24K!

The Chinese game company The9 recently joins the market as a new player by purchasing 31,000 mining machines.

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