Bitcoin Mining Hash Rate Spikes by 30% in 24 Hours - BitcoinEthereumNews.com
Over the last 24-hours, Bitcoins network hash rate rose by 31.69% to reach 248.11 EH/s, further ascertaining the resilience of the network against possible exploitation during the mining process. The hash rate is the number of nodes on a network. Higher hash rates signify more decentralization and higher computing power available for the network. With more decentralization, a network is more resistant to possible cybersecurity attacks. Before the recent jump, the hash rate was around 188.40%. With this massive spike, the Bitcoin network further shows its resilience. Following China‘s ban on cryptocurrency and mining in June 2021, there were concerns that Bitcoin’s network security would drop – as China-based miners provided 34.2% of the total hash rate on the network at that time. However, the network quickly recovered as miners moved to other countries. In the past year, the hash rate has increased by 54.33 percent. Miners based in the United States currently account for most of the hash rate on the network at 35.4%, with the state of Georgia emerging as a hub for crypto mining. Januarys ATH hash rate This isnt the first time bitcoins hash rate reached an all time high (ATH), however. Back in January, the network has an average rate