'Struggling' Bitcoin sets a new all time hashrate record breaking the

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Bitcoin’s price decreased by $2,000 in the past few days , yet the network’s hashrate has set a new all-time high, breaking the 150 TH/s plateau for the first time in its history. Bitcoin hashrate. Source: Glassnode . Hashrate is a key indicator when determining the health of the Bitcoin ( BTC ) network. It represents the amount of global hashpower dedicated to mining the coin, and can also be interpreted as the amount of energy that protects the network from potential 51% attacks. Miners are some of the most important players in the Bitcoin ecosystem, and their continued allocation of resources despite the recent gyrations in price may be a positive long-term indicator. Though it should be noted that when it comes to industrial mining, business planning involves medium to long-term time horizons and typically does not get impacted by short-term price volatility. The overall economic uncertainty may be another factor that is forcing more companies and individuals to allocate resources to Bitcoin mining; an activity that is often viewed as a hedge against traditional markets .


All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/struggling-bitcoin-sets-a-new-all-time-hashrate-record-breaking-the-150-th-s-plateau-for-the-first-time


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