• 9 Feb 2021
  • Unlex Team

Bitcoin hash rate and mining difficulty chart new all-time highs

Bitcoin hash rate and mining difficulty chart new all-time highs

The hashrate on Bitcoin’s network now surged to yet another all-time high, this time above 155 million TH/s.

The hash rate is a measuring unit of the processing power of the BTC network.

Upon creating the BTC network, Satoshi Nakamoto inserted a self-adjusting mechanism that could make it harder or easier for miners depending on their active number.

The more miners put their computational devices to work, the higher the hash rate goes, which makes the system more secure and robust.

As such, the network goes through an automatic adjustment process every 2,016 blocks (roughly every two weeks). The general rule of thumb suggests that the participation of many miners would increase the mining difficulty.

With the expanding hash rate, though, it’s evident that miners are actively putting their devices to work on the network, which meant that the last adjustment (on Feb 6th) needed to make it harder.

This means that even though the 2020 halving reduced the rewards miners receive for their work to 6.25 BTC per block, they haven’t abandoned the network – just the opposite.

But what does it mean for cloud mining?

A high hashrate means that it's more difficult to mine Bitcoin. The higher the hashrate the more miners there are which means the cloud mining power price adjustment.

Unlex Mining recommends you buy cloud mining power before the price rises!

Start mining Bitcoin now and accumulate it in your wallet or use it as a fiat currency with Unlex VISA card!

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