As a seasoned researcher who has witnessed the evolution of Bitcoin since its early days, I must admit that the current surge in both price and hashrate is nothing short of breathtaking. Just last year, when I first heard about miners achieving 473 TH/s with their machines, it seemed like science fiction. Now, we’re looking at a network processing 800 quintillion hashes per second!
This week, Bitcoin is breaking records in two significant areas: its network’s computational strength and its market value. On December 15, 2024, the Bitcoin hashrate, which represents the computing power of the network, peaked at an unprecedented level of 801 exahashes per second (EH/s), setting a new record high.
Currently, the surge in Bitcoin’s computational power (hashrate) coincides with an ongoing price rise that keeps it steadily above $100,000. At this moment, a single Bitcoin is valued at approximately $104,055.91, having reached a new peak of $106,450 earlier today during Asian trading hours.
According to information from a blockchain tracker, the Bitcoin hashrate at present stands roughly at 801.448 Exahash per second (EH/s), which aligns with increases in the Bitcoin price.
With Bitcoin approaching its record-breaking price peak, the heightened activity and growing curiosity around this digital currency are evidently putting a strain on the network’s capabilities.
In the last year alone, Bitcoin’s hashrate increased from approximately 506 exahash per second (EH/s) to its current level. This represents an astounding growth of around 293 EH/s! For context, the most potent mining equipment available today operates at roughly 473 terahashes per second (TH/s), which is a tiny fraction of an exahash (0.000473 EH/s).
Currently, our blockchain network hums along at approximately 799 Exahashes per second, handling an astonishing 800 quintillion hash calculations every second. This makes it one of the most secure and efficient networks globally. The increasing hashrate is not only enhancing its security but also quickening the pace at which blocks are mined. At present, the average block mining time stands at 9 minutes and 34 seconds, noticeably faster than the anticipated 10-minute interval.
Consequently, an adjustment in difficulty is anticipated for today, leading to a 4.4% rise. This means it’ll become tougher for miners to discover new blocks, potentially intensifying the competition within the mining sector.
Currently, the total value of all Bitcoins in circulation, also known as the Bitcoin market capitalization, is approximately $2.05 trillion. In terms of 24-hour trading volumes, it’s roughly around $66.9 billion. This bustling and dynamic market is indicative of its high activity levels.
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2024-12-16 16:53