Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High

The Bitcoin network’s hashrate has been operating at very high processing speeds during the last few weeks, as the overall hashrate touched a whopping 171.2 exahash per second (EH/s) on Monday. Moreover, the network’s mining difficulty has also touched an all-time high (ATH) at 20.61 trillion, the highest difficulty the network has ever experienced in the last 12 years.

One aspect of the Bitcoin (BTC) network that people look at to measure the protocol’s overall health and growth is the hashrate. At the time of publication, the BTC hashrate is processing at speeds of around 165.38 EH/s and the miner’s collective hashpower has been nearing all-time highs again. For instance, on December 30, 2020, the network hashrate spiked to a colossal 178.6 EH/s and 12 days later the hashrate hit 171.2 EH/s.

What has surpassed its ATH is BTC’s network mining difficulty or difficulty adjustment algorithm (DAA). This week the mining difficulty is the highest the difficulty has ever been in Bitcoin’s lifetime to-date. After the significant price dip on Monday and the accelerated hashrate the same day, the protocol pushed the mining difficulty to 20.61T.

Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High
Bitcoin (BTC) mining hashrate is operating at 165,376,566,182,178,200,000 H/s on Wednesday, January 13, 2021, at 8:00 p.m. (EST).

Because the hashrate is so high entering the second week of January 2021, the Bitcoin network’s difficulty will increase +9.98% or 22.66T, another ATH in less than two weeks. This will take place in roughly nine days from now, give or take, depending on the average output of blocks per day.

Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High
Bitcoin (BTC) mining difficulty is approximately 20,607,418,304,385 (20.61T) on Wednesday, January 13, 2021, at 8:00 p.m. (EST).

The BTC hashrate has increased a great deal over the years, as the entire network’s hashrate was only one exahash per second back in January 2016. On May 8, 2017, news.Bitcoin.com reported on the BTC network hashrate touching 4,216,797,036 GH/s…

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