Posted 2 years ago | by Ben Armstrong
Mining is Surging
The hashrate of the bitcoin network has once again reached a new all time high. The hashrate climbed to 78.9978EH/s on July 29th. To put that into perspective, during the infamous 2017 bull run the hashrate was approximately 15 EH/s. Right now the hashrate is more than five times larger than it was then even though bitcoin itself is still far from all time highs.
2019 has seen the network reach a new all time high multiple times. This is very healthy for the network because the higher the hashrate climbs, the more secure the network is. It becomes much more expensive for someone to attempt an attack.
Bitcoin's mining hashrate just hit a new all-time high.
The higher the hashrate, the more costly attacks become. Security of the network continues to increase! ? https://t.co/CJujjEnc1H
— Stephen Cole (@sthenc) July 31, 2019
So far this year, we've seen bitcoin reach all time highs in both hashrate and the number of transactions. The only all time high bitcoin has not eclipsed is the price per coin. Will that be next? I know I hope so.
To see more details on this story and more, watch the latest video from BitBoy Crypto: