Bitcoin Hashrate Briefly Reaches Zetahash Per Second

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As a seasoned crypto investor with over a decade of experience under my belt, witnessing Bitcoin‘s hashrate surpass 1,000 EH/s for the first time is nothing short of breathtaking. I remember when Bitcoin was barely scraping past EH/s just a few years ago, and now we’re seeing exponential growth that seems almost unbelievable.

My journey in the crypto world began back when Bitcoin was trading at mere pennies, and it’s been a rollercoaster ride ever since. I’ve seen the network struggle through its ups and downs, but each time it comes out stronger than before. The recent recovery from the post-halving hashrate drawdown is a testament to Bitcoin’s resilience and adaptability in the face of adversity.

The surging hashrate means that the network is more secure than ever, with mining difficulty reaching new record peaks. And as reported by U.Today, the next adjustment is expected to be positive, pushing mining difficulty beyond 111 EH/s for the first time. I’ve seen many crypto projects come and go, but Bitcoin continues to stand strong, proving its worth in the face of adversity.

Recent research shows a correlation between hashrate and price, and with Bitcoin currently trading at over $96,000, it seems that this trend may continue. It’s an exciting time to be involved in crypto, and I can’t wait to see what the future holds for this revolutionary technology.

On a lighter note, I remember when people used to laugh at me for investing in Bitcoin back in the day. Now, as it surpasses $100,000, those same people are asking me how they can get their hands on some. So if you’re reading this and thinking about investing in crypto, don’t wait too long – who knows what crazy heights we’ll reach next!

The collective computational strength of the Bitcoin network, known as its hashrate, has gone beyond one thousand quintillion hashes per second (or a decimal notation of one exahash per second), marking the first instance of this milestone, based on statistics shared by CoinWarz.

The milestone was achieved for the first time on Jan. 2 at around 23:00 UTC. 

The computational power of Bitcoin, measured in hashrate, has been increasing dramatically for several years now. To provide some context, a year ago it was approximately 173 Exahashes per second (EH/s). However, over the last year alone, this hashrate has escalated from 588 EH/s to an astonishing zetahash.

After the Bitcoin halving event that occurred in April, I noticed a substantial decrease in the hashrate, particularly in July. This was due to some miners finding it challenging to adapt to the lower block rewards they were receiving. Consequently, their revenue plummeted dramatically from a high of approximately $2 billion in March to just $815 million in September.

Nevertheless, the hashrate bounced back, climbing from a low of 521 EH/s on July 18 to a peak of 844 EH/s on October 21.

OR

After hitting a low of 521 EH/s on July 18, the hashrate then rose again, peaking at 844 EH/s on October 21.

OR

Despite falling to a low of 521 EH/s on July 18, the hashrate later increased and reached a high of 844 EH/s on October 21.

The surging hashrate means that the Bitcoin network has become more secure and resilient. 

According to U.Today’s report, the challenge of mining Bitcoin, which grows alongside the hashrate, recently hit a new high of 109.78 trillion. The next adjustment, scheduled for January 12, is predicted to be positive as well. This difficulty level is projected to surpass the 111 exahash per second (EH/s) threshold for the first time.

It appears that current studies indicate a link between the complexity of Bitcoin mining (hashrate) and its market value (price). It’s worth noting that it’s possible for changes in either the hashrate or price to influence each other, suggesting a two-way causality relationship.

In December, Bitcoin’s value exceeded $100,000 for the initial time, and it is now being traded at around $96,675.

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2025-01-03 09:13