After breaking the July 25, 2024 record on Saturday, Sept. 7, Bitcoin’s hashrate has kept climbing, now reaching an impressive 692.28 exahash per second (EH/s) on Sept. 8, which is more than 13 EH/s above the previous level.
Bitcoin Smashes Another Hashrate Record, Climbing 66 EH/s in a Week
On Sunday, Sept. 8, 2024, Bitcoin’s total hashrate spiked to an impressive 692.28 EH/s, edging ever closer to the 700 EH/s milestone. This marks yet another all-time high for Bitcoin’s network this week. Throughout 2024, the network has experienced a significant boost in computational power, climbing from 393 EH/s to its current level.
This translates to an increase of more than 299 EH/s since Sept. 8, 2023, reflecting a 76.15% growth over the past year. Over the past week, the hashrate jumped by 66 EH/s, landing at the current 692.28 EH/s. This increase coincides with the network’s mining difficulty nearing its highest levels, while miner revenue has taken a steep drop.
The hashprice, or the estimated value of 1 petahash per second (PH/s), has dropped below yesterday’s $39.01 per PH/s per day. As of Sunday, it sits at $38.55 per PH/s, according to Luxor’s hashrateindex.com. The steady climb in Bitcoin’s hashrate points to a deeper shift, reflecting the growing strength and persistence of the network.
The elevated computational power has resulted in quicker block intervals, averaging about 9 minutes and 28 seconds. This rapid pace is setting the stage for the upcoming difficulty adjustment on Sept. 10, with a projected increase of 5.48%. Should this estimate hold, the difficulty will break the previous all-time high set during the two-week epoch that began on July 31.
What do you think about Bitcoin’s network hashrate nearing the 700 EH/s zone? Share your thoughts and opinions about this subject in the comments section below.
After breaking the July 25, 2024 record on Saturday, Sept. 7, Bitcoin’s hashrate has kept climbing, now reaching an impressive 692.28 exahash per second (EH/s) on Sept. 8, which is more than 13 EH/s above the previous level.
Bitcoin Smashes Another Hashrate Record, Climbing 66 EH/s in a Week
On Sunday, Sept. 8, 2024, Bitcoin’s total hashrate spiked to an impressive 692.28 EH/s, edging ever closer to the 700 EH/s milestone. This marks yet another all-time high for Bitcoin’s network this week. Throughout 2024, the network has experienced a significant boost in computational power, climbing from 393 EH/s to its current level.
This translates to an increase of more than 299 EH/s since Sept. 8, 2023, reflecting a 76.15% growth over the past year. Over the past week, the hashrate jumped by 66 EH/s, landing at the current 692.28 EH/s. This increase coincides with the network’s mining difficulty nearing its highest levels, while miner revenue has taken a steep drop.
The hashprice, or the estimated value of 1 petahash per second (PH/s), has dropped below yesterday’s $39.01 per PH/s per day. As of Sunday, it sits at $38.55 per PH/s, according to Luxor’s hashrateindex.com. The steady climb in Bitcoin’s hashrate points to a deeper shift, reflecting the growing strength and persistence of the network.
The elevated computational power has resulted in quicker block intervals, averaging about 9 minutes and 28 seconds. This rapid pace is setting the stage for the upcoming difficulty adjustment on Sept. 10, with a projected increase of 5.48%. Should this estimate hold, the difficulty will break the previous all-time high set during the two-week epoch that began on July 31.
What do you think about Bitcoin’s network hashrate nearing the 700 EH/s zone? Share your thoughts and opinions about this subject in the comments section below.
