Bitcoin network hash rate hits an all-time high

On Saturday, February 12, the Bitcoin network hash rate rose to an all-time high above 248 EH/s. Over the 24 hours, the metric rose by more than 30%, according to Glassnode.

The hash-rate chart of the first cryptocurrency, smoothed by a seven-day moving average, has trended upward over the last three months. During this period, the metric rose by nearly 50%, to 201.36 EH/s.

In January 2022, the mining difficulty of digital gold reached a record high — 26.64 trillion. In the latest recalculation on February 4, the value rose only marginally and stood at 26.69 trillion.

The growth of the network’s total computational power indicates greater resilience of the blockchain and testifies to the development of its infrastructure. The metric fully recovered after the ‘Great Migration’ of Chinese miners.

On February 6, the Ethereum network hash rate also reached an all-time high above 971 TH/s. The indicator’s graph, smoothed by a seven-day moving average, is at a peak — on February 12 the value surpassed 955 TH/s.

As reported in January 2022, the revenue of bitcoin miners amounted to $1.21 billion, which was 15% lower than December’s figure. The share of fees in the revenue of Bitcoin miners fell to a record low of 1.15% or $13.9 million.

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