Bitcoin’s Total Network Hashrate Hits an All-time High

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  • The rise in hashrate has coincided with the mining difficulty of Bitcoin reaching a record high.
  • The maximum rate of 321.15 exahashes per second is equivalent to 0.32115 ZH/s.

According to data compiled by coinwarz.com, Bitcoin’s overall hashrate reached an all-time high (ATH) on Wednesday, at block height 757,214. The last time the hashrate of the Bitcoin network hit an all-time high of about 301.87 EH/s was on September 11, 2022. The block height recorded then was 753,647.

On June 8, 2022, at block height 739,928, the network’s hashrate achieved a previous ATH of 292.02 EH/s, before it jumped beyond 300 exahash. Recent ATHs in total computational power have occurred during the crypto winter, when BTC values are down 70% from their all-time high on November 10, 2021 ($69K).

Hashrate and Mining Difficulty Correlate

The rise in hashrate has coincided with the mining difficulty of Bitcoin reaching a record high. The difficulty got raised from 30.97 trillion hashes to 32.05 trillion at block height 753,984.

The current value of 31.36 trillion hashes is lower than what it will be after the next adjustment, which is anticipated to raise it by 7.10%. On October 10, 2022, the difficulty might be as high as 33.59 trillion hashes if the aforementioned adjustment prediction pans out.

The maximum rate of 321.15 exahashes per second is equivalent to 0.32115 ZH/s. A zetahash is 1,000,000,000,000,000,000,000 (one sextillion) hashes per second, which is an unimaginably large number compared to the quintillion hashes in a single exahash.

The overall hashrate fell below 300 exahash around 2:20 p.m. (ET) and is now stable at 287.98 EH/s. According to CMC, the Bitcoin price today is $20,133.57 USD with a 24-hour trading volume of $36,119,441,283 USD. Bitcoin is up 0.09% in the last 24 hours.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.