It renewed the previous record from January 1

​Bitcoin hashrate rises to an all-time high

15.01.2022 - 08:30

113

1 min

What’s new? According to the Glassnode analytics firm, the hashrate of bitcoin hit the all-time high of over 215 Eh/s on December 14. Last week, the figure was down to 170 Eh/s amid an internet outage and unrest in Kazakhstan. This impact is since 18% of the world's bitcoin mining capacity is located in the country.

What events preceded it? In December 2021, the first cryptocurrency's hashrate recovered from the great miners’ migration. In July 2021, the State Power Corporation of China informed all its customers that they would not be able to officially use the electricity to mine any cryptocurrency in every province.

Following this announcement, the miners were forced to migrate, triggering the biggest drop in the hashrate in the entire history of bitcoin. At the time, the figure was at a critical low of 84 Eh/s, down 53% from the previous high.

Author:

Tatiana Darda Tatiana Darda

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy