Bitcoin Mining Flourishes: Hashrate Reaches All-Time High
The Bitcoin hashrate has reached a new all-time high, as reported by BTC-ECHO | Bitcoin & Blockchain since 2014. On January 3rd, the network's computational power surpassed an impressive threshold of over 1,000 Exahashes per second (EH/s), according to data from Coinwarz. Although it later decreased to around 736 EH/s, this figure still represents a significant increase compared to the previous year.
This surge in hashrate highlights the determination of miners to capture larger market shares and simultaneously enhances the security of the Bitcoin network. Interestingly, despite concerns about potential impacts from April’s halving event—which reduced block rewards—there were no notable declines in mining activity; instead, there was consistent growth.
According to Theminermag's analysis at the end of 2024, nearly 40% of hashpower contributed by mining pools originated from Foundry USA and MARA Pool based in America. Currently leading with approximately 36% share is Foundry pool whose annual output increased significantly—from roughly 157 EH/s to nearly double that amount within just one year alone!
Despite official restrictions on cryptocurrency activities imposed domestically across China, estimates suggest that the majority of global hashing capacity continues to originate from there. This is a testament not only to the resilience but also to the adaptability of those involved in the industry worldwide, more than ever seen historically thus far.
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