Mining Bitcoin Hashrate Has Doubled Since Late 2018

Bitcoin Hashrate Has Doubled Since Late 2018

Bitcoin hashrate has doubled since late 2018, currently standing at 64 million TH/s, up from the lows of 32 million, since last December.

The hashrate has also crossed the 2017 highs, which means that the Bitcoin blockchain is stronger than ever before.

Blue chart going up after a slight correction, with a white background behind it.
The chart shows that we broke record highs, since the end of 2017, and more than doubled the hashrate since the end of 2018. Numbers on the side are Tera hashes per second. | Screenshot from blockchain.com.

In the past, hashrate growth and price growth was correlated, and it looks like this trend may continue in the future too.

Bitcoin is up over 200% since the hashrate started to rise again.

Renewable Energy

https://twitter.com/Nouriel/status/1062768239074271232

People have been criticizing Bitcoin for Toxic Pollution and Environmental Disasters thanks to its Proof of Work algorithm; however, most of this criticism is based on thin air. Research suggests that at least 77.6% of Bitcoin mining is done using renewable energy.

Bitcoin mining image via Marko Ahtisaari. Licensed under CC BY 2.0.

Follow us on social media for more articles like this one!

Latest News