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.

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:

[youtube v="DPYt96E0vFk"]

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Bitcoin Hashrate Reaching All Time HighBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.