Bitcoin Hashrate Spikes 25 EH/s in Eight Days as Miners Gear Up

In the recent week, the BTC miners have increasing computational power, specifically after the 14th of August. While the hash price of Bitcoin has been

The BTC miners' computational power has been increasing recently, especially after August 14. While the hash price of Bitcoin continues to decrease, dropping below $44 per Peta hash per second each day, its hashrate is beginning to spike once again. Surging from nearly 612 exahash per second, the hashrate has climbed to approximately 637 EH/s, indicating an elevation of 25 EH/s within eight days.

The difficulty of the Bitcoin network also decreased from 90.66 to almost 86.87 trillion, providing some relief following a substantial 10.5% spike on July 31. A few days ago, on July 25, the 7-day SMA showed Bitcoin's hashpower climaxing at up to 677 EH/s. However, it quickly dropped to 612 exahash per second by August 9. Now, over the past eight days, Bitcoin's hashrate has spiked by 25 EH/s, surging notably after the recent difficulty decrease.

On that day, Bitcoin's hashrate was at 624 EH/s, indicating that thirteen EH/s entered in just seventy-two hours. The price of Bitcoin and the decreased on-chain fees for miners have contributed to a substantially low hash price. Before the Bitcoin halving event, in 2022’s November, the hash price encountered a couple of lows following the FTX crash. Due to that, the rates dropped to $56 for each PH/s.

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Moving on, in October mid, the hash price slumped to $59 for each PH/s. According to the statistics, the present rate is standing below $44 for each PH/s. Before this, on the 5th of this month, it lowered to $35 for each PH/s. Both the respective levels denote the lowest spots that Bitcoin has ever gone through.

BTC Miners Leverage Cutting-Edge Mining Rigs to Get Top TH/s Output

Nevertheless, miners enjoyed a short respite with a greater hash price back in April and March before the 4th halving. Moreover, miners have additionally prepared in the case of reward halving. They have reportedly acquired numerous more effective mining rigs to receive increased TH/s output.

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