The post Bitcoin Hashrate Marches To New ATH Amid Price Rollercoaster appeared on BitcoinEthereumNews.com.

On-chain data shows the Bitcoin Mining Hashrate has witnessed a sharp rise towards a new all-time high amid all the chaos in the market. Bitcoin Mining Hashrate Has Shot Up Recently The “Mining Hashrate” refers to a metric that keeps track of the total amount of computing power that the Bitcoin miners as a whole have connected to the network. The indicator is measured in units of hashes per second (H/s) or the larger and more practical terahashes per second (TH/s). When the value of this metric rises, it means new miners are joining the network and/or existing ones are expanding their facilities. Such a trend implies these chain validators are finding the blockchain an attractive opportunity. On the other hand, the indicator going down suggests some of the miners have decided to disconnect their machines from the chain, potentially because they are no longer making a profit on BTC mining. Now, here is a chart from Blockchain.com that shows the trend in the 7-day average Bitcoin Mining Hashrate over the past year: The 7-day average value of the metric appears to have spiked in recent days | Source: Blockchain.com As displayed in the above graph, the 7-day average Bitcoin Mining Hashrate rose to an all-time high (ATH) of around 817,700 TH/s during the starting days of the year, but the metric couldn’t sustain at these levels as its value soon registered a plunge. The indicator showed consolidation about its lows for the rest of January, but it would appear February has finally brought fresh winds as its value has seen a steep uptrend and has smashed past its previous peak to set a new record of about 832,600 TH/s. This renewed expansion from the miners has interestingly come while the cryptocurrency has been going through an uncertain period with…

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Filed under: News - @ February 5, 2025 9:23 am