Bitcoin Hashrate Hits New Peak as BTC Price Struggles
Bitcoin’s computational power has surpassed a historic milestone, hitting 971 exahashes per second based on CoinWarz statistics.
Addressing variability in data
Earlier this month, temporary surges briefly pushed the hashrate beyond 1 zettahash per second.
Such short-lived peaks, however, are often dismissed as unreliable indicators due to insufficient time for block production fluctuations to stabilize.
Long-term hashrate graphs help mitigate these irregularities. Consequently, many argue that authentic records are best observed over extended periods, avoiding distortions from transient data anomalies.
Computational power and market value
Conventional wisdom suggests Bitcoin’s mining activity correlates with its market price, as higher coin values incentivize miners to deploy more hardware.
While some speculate computational power might influence pricing, no definitive causal relationship has been established.
Despite this, the latest computational achievement strengthens Bitcoin’s foundational metrics, signaling enhanced network resilience.
In contrast, Bitcoin faces downward price pressure, recently falling under the $111,000 threshold.
Geographical dominance
The United States continues to dominate global mining activity, contributing 36% of total network processing capacity.
China, despite regulatory restrictions, unexpectedly retains significant mining influence with a 14% share of worldwide computational output.
Source: cryptonews.net
