Bitcoin Hashrate Reaches New All-Time High

According to Cointelegraph, the Bitcoin hashrate has achieved a new all-time high, reflecting the increasing security of the world's first blockchain network. On October 21, the Bitcoin network hashrate reached 769.8 exahashes per second (EH/s), marking a significant milestone in the network's history. Data from BitInfoCharts indicates that the hashrate has been on a steady upward trend since 2021. This growth is largely attributed to advancements in mining hardware, particularly application-specific integrated circuits (ASICs). The rising hashrate signifies enhanced security for the Bitcoin network, but it also implies higher costs for mining one Bitcoin (BTC). As the 2024 Bitcoin halving approaches, which will reduce the block reward, the increasing hashrate could result in consolidation among smaller mining firms. This ongoing development will continue to be monitored, and further updates will be provided as more information becomes available.