Has The Bitcoin Hash Rate Gotten Too High?
The Bitcoin network’s hash rate level continues to hit record highs in 2022, but how much hash rate is enough… or even too much?Miners provide a last line of defense for securing the Bitcoin network against brute-force attacks from malicious actors who might accumulate a majority of SHA-256 hash rate. The more hashing power is spent discovering new blocks for the longest Bitcoin chain, the more secure the funds on the trillion-dollar network will be. Despite a significantly depressed bitcoin price, however, which is currently sitting more than 50% below its latest all-time high, the....
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Does hash rate fall this significantly often? Miner monthly revenue nears 2017 levels. Hash price is now 48% up from the lows. Is this a mining death spiral?
The Bitcoin network hash power is at an all-time high as the spot price looks to breach the $36,000 price mark for the first time. The Bitcoin (BTC) price is not the only metric seeing record numbers as the network hash rate has set a new all-time high.According to data from Blockchain.com, the estimated seven-day average Bitcoin hash rate is now at about 148 exahashes per second, or EH/s. This figure represents the amount of computing power expended by miners to secure the network every second.Bitcoin hash rate. Source: Blockchain.com Tweeting on Jan. 1, on-chain analytics data provider....