Bitcoin network computing power or mining hash rate is expected to have reached an all-time high on Christmas. It is expected that it has created more pressure on miners amid a slump in profitability, stated Cointelegraph.
With insights from Blockchain.com, on December 25, 2023, Bitcoin’s hash rate reached an all-time high of 544 exahashes per second (EH/s). The data mentioned by Bitinfocharts reported an average hash rate peak over the weekend, added Cointelegraph.
“We’re approaching almost an entire year without fully clearing Bitcoin mempools, having sustained elevated fee pressure since Feb,” an analyst at Glassnode explained.
Furthermore, Network hash rates passed about 500 EH/s figure in late November, Cointelegraph concluded.
(With insights from Cointelegraph)
