{"id":483661,"date":"2022-02-14T23:00:56","date_gmt":"2022-02-14T23:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=483661"},"modified":"2024-06-11T12:55:18","modified_gmt":"2024-06-11T12:55:18","slug":"bitcoin-hashrate-climbs-to-new-high-as-price-recovers-above-42000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-hashrate-climbs-to-new-high-as-price-recovers-above-42000\/","title":{"rendered":"Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000"},"content":{"rendered":"

Bitcoin\u2019s hash rate has continued its recent climb, riding the waves to new highs. The digital asset that has been suffering following the market crash seems to only be suffering in price as it has kept up the pace in other avenues. Coming out of the weekend, bitcoin has recorded a significant spike in its hash rate, leading to a new high of 248.11TH\/s in a period of 24 hours.<\/p>\n

Bitcoin Hash Rate Touches New High<\/h2>\n

Between February 11th and February 12th, the bitcoin hashrate recorded a new high. Miners who have been an integral part of the network since inception have continued to increase their support for it. Not only does mining profit the miners through block rewards and transaction fees, but they also help to secure the network with their activities which is why the recent surge is important.<\/p>\n

Relaed Reading |\u00a0Argentinian Tax Authority to Seize Digital Wallets to Collect Tax Debts<\/a><\/strong><\/em><\/p>\n

The hash rate has continued to trend around the same level for the better part of the month, fluctuating above and below 200 TH\/s. On Saturday however, Blockchain.com reported<\/a> that the hash rate had jumped 31% in the space of a day. It is one of the most significant growth recorded on the blockchain in recent times.<\/p>\n

In a matter of one year alone, the hashrate has grown 54%. This is coming up from the China crackdown on mining that saw the hash rate from the region crash to near zero. The digital asset has since recovered from this and surged towards new highs.<\/p>\n

With more power coming from the computing machines of miners, the hash rate has continued to climb. It is, in turn, helping to straighten the bitcoin network, an all-around win for the asset.<\/p>\n

Why Is Hash Rate Rising?<\/h2>\n

The rise in the hash rate can be attributed to the number of miners that are coming into the space. Gone are the days when bitcoin mining was carried out on computers with graphics cards. Nowadays, there are entire farms dedicated to the activity of thousands of mining machines all connected to give the miners a better shot at mining a block. It has grown into a robust, billion-dollar industry.<\/p>\n

\"Bitcoin<\/p>\n

BTC settles above $42K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
On the flip side of this, small-time miners are also ramping up their activities. Although their small hash rate makes it harder to make a profit, these small miners are finding refuge in mining pools where they pool their hash rate together, thereby increasing their chances of finding a block.<\/p>\n
Relaed Reading | Bitcoin Price Quick Look: Profit Taking Affects Current Market Movements<\/a><\/strong><\/em><\/p>\n
This has worked out for a couple of miners<\/a> who have been able to mine full blocks, receiving the full reward, despite their small hash rate. With this, more small miners are coming online but the real values are coming from the big players.<\/p>\n
It is expected that bitcoin\u2019s hash rate will continue to rise as more players move into the mining industry. It has become a refuge for investors who want to invest in bitcoin-adjacent products. Currently, Russia has overtaken China and the United States to become the country with the highest hash rate.<\/p>\n
Featured image from CoinDesk, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin\u2019s hash rate has continued its recent climb, riding the waves to new highs. The digital asset that has been suffering following the market crash seems to only be suffering in price as it has kept up the pace in other avenues. Coming out of the weekend, bitcoin has recorded a significant spike in its hash rate, leading to a new high of 248.11TH\/s in a period of 24 hours. Bitcoin Hash Rate Touches New High Between February 11th and February 12th, the bitcoin hashrate recorded a new high. Miners who have been an integral part of the network since inception have continued to increase their support for it. Not only does mining profit the miners through block rewards and transaction fees, but they also help to secure the network with their activities which is why the recent surge is important. Relaed Reading |\u00a0Argentinian Tax Authority to Seize Digital Wallets to Collect Tax Debts The hash rate has continued to trend around the same level for the better part of the month, fluctuating above and below 200 TH\/s. On Saturday however, Blockchain.com reported that the hash rate had jumped 31% in the space of a day. It is one of the most significant growth recorded on the blockchain in recent times. In a matter of one year alone, the hashrate has grown 54%. This is coming up from the China crackdown on mining that saw the hash rate from the region crash to near zero. The digital asset has since recovered from this and surged towards new highs. With more power coming from the computing machines of miners, the hash rate has continued to climb. It is, in turn, helping to straighten the bitcoin network, an all-around win for the asset. Why Is Hash Rate Rising? The rise in the hash rate can be attributed to the number of miners that are coming into the space. Gone are the days when bitcoin mining was carried out on computers with graphics cards. Nowadays, there are entire farms dedicated to the activity of thousands of mining machines all connected to give the miners a better shot at mining a block. It has grown into a robust, billion-dollar industry. BTC settles above $42K | Source: BTCUSD on TradingView.com On the flip side of this, small-time miners are also ramping up their activities. Although their small hash rate makes it harder to make a profit, these small miners are finding refuge in mining pools where they pool their hash rate together, thereby increasing their chances of finding a block. Relaed Reading | Bitcoin Price Quick Look: Profit Taking Affects Current Market Movements This has worked out for a couple of miners who have been able to mine full blocks, receiving the full reward, despite their small hash rate. With this, more small miners are coming online but the real values are coming from the big players. It is expected that bitcoin\u2019s hash rate will continue to rise as more players move into the mining industry. It has become a refuge for investors who want to invest in bitcoin-adjacent products. Currently, Russia has overtaken China and the United States to become the country with the highest hash rate. Featured image from CoinDesk, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":483668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,55860,640,1119,84159,2312],"class_list":["post-483661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-hashrate","tag-bitcoin-mining","tag-btc","tag-btc-mining","tag-hashrate"],"acf":[],"yoast_head":"\nBitcoin Hashrate Climbs To New High As Price Recovers Above $42,000<\/title>\n<meta name=\"description\" content=\"Bitcoin\u2019s hash rate has continued its recent climb, riding the waves to new highs. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000","url":"http:\/\/uniquehot.com\/news\/bitcoin-hashrate-climbs-to-new-high-as-price-recovers-above-42000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-hashrate-climbs-to-new-high-as-price-recovers-above-42000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/02\/bitcoin-mining.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/02\/bitcoin-mining.jpeg?fit=1500%2C1000"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin hashrate","bitcoin mining","btc","btc mining","hashrate"],"dateCreated":"2022-02-14T23:00:56Z","datePublished":"2022-02-14T23:00:56Z","dateModified":"2024-06-11T12:55:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-hashrate-climbs-to-new-high-as-price-recovers-above-42000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-hashrate-climbs-to-new-high-as-price-recovers-above-42000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/bitcoin-mining.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/bitcoin-mining.jpeg?fit=1500%2C1000\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin hashrate\",\"bitcoin mining\",\"btc\",\"btc mining\",\"hashrate\"],\"dateCreated\":\"2022-02-14T23:00:56Z\",\"datePublished\":\"2022-02-14T23:00:56Z\",\"dateModified\":\"2024-06-11T12:55:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/02\/bitcoin-mining.jpeg?fit=1500%2C1000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/483661"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=483661"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/483661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/483668"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=483661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=483661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=483661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}