HashRateIndex: Bitcoin hashrate growth may indicate that mining companies are using new mining machines to compete

HashRateIndex reports that Bitcoin’s seven-day hashrate hit an all-time high of 659 EH/s, up 13.6% from the post-halving low of 580 EH/s. In addition, the average network hashrate hit an all-time high of 732 EH/s at the end of last week, according to Bitinfocharts. HashRateIndex explains that the hashrate growth could indicate that listed miners are starting their ASIC orders as planned, meaning more powerful hardware is being enabled and competition will intensify as more hashrate comes online. The report notes that the current average block time is 9 minutes and 26 seconds. Top listed miners have booked 76.6 EH/s of equipment for 2024. In addition, 12.9 EH/s of the equipment should have been delivered in the first quarter, and almost 36 EH/s of the equipment should have been delivered in the second quarter. HashRateIndex added: "Regardless of where it comes from, the current surge in computing power will bring miners a considerable difficulty increase in about 8 days." (Cryptopotato)