Bitcoin’s hash rate has surged to an all-time high of 791.62 million TH/s, marking a 74% year-over-year increase. This significant rise underscores the growing strength and security of the Bitcoin network, as well as the increasing competitiveness of the mining industry.

Record Hash Rate Milestone

The latest data shows that Bitcoin’s hash rate has fluctuated between 574 million and 742 million TH/s in early October, before hitting its record high. The surge is attributed to the deployment of advanced mining hardware and the dominance of U.S.-based miners, who now control nearly 29% of the global hash rate.

Difficulty Adjustment and Mining Revenues

Bitcoin’s mining difficulty is also approaching a new record high, expected to increase by 4.17% to 95.88 trillion on October 22. Despite the rising difficulty, Bitcoin miners continue to earn steady revenues, with daily mining revenue standing at $38.38 million as of October 20. Although revenue is down 33.2% compared to last year, miners remain optimistic as Bitcoin prices hover near $69,000.
Read the full article on cryptopotato.