2 years ago
The computing powerfulness of the Bitcoin web reached its all-time precocious earlier this week. Data from Blockchain.com showed the full hash complaint reached arsenic precocious arsenic 320 EH/s betwixt Feb. 20 and Feb. 26, posting a 10% summation since the opening of the month.
Graph showing Bitcoin’s hash complaint from 2009 to 2023 (Source: Blockchain.com)The 320 EH/s represents a 44% summation from the December debased of 222 EH/s.
Graph showing Bitcoin’s hash complaint from September 2022 to February 2023 (Source: Blockchain.com)Such a notable summation successful hash complaint tin mostly beryllium attributed to a emergence successful uptime for miners located successful the U.S. Throughout December. The U.S. was deed with terrible wintertime storms that strained the country’s powerfulness grid and forced galore miners to curtail their operations to support grid stability.
The opening of the twelvemonth brought connected overmuch much favorable upwind conditions that stabilized the grid and enabled miners successful the state to execute a importantly higher uptime. This continued passim February, enabling miners successful the U.S. — which marque up 51% of Bitcoin’s planetary hashrate — to summation their mining capacity.
The highest successful Bitcoin’s hash complaint besides correlates with an summation successful Bitcoin’s price, which saw a coagulated rebound successful mid-February contempt persisting macro uncertainty.
Graph showing Bitcoin’s terms successful February 2023 (Source: CryptoSlate BTC)The station Bitcoin hash complaint reaches ATH appeared archetypal connected CryptoSlate.
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