Bitcoin network hash fee explodes to a brand new all-time excessive of 248.11 EH/s

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The network hash fee jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in barely in the end, further guaranteeing resilience against attacks on the Bitcoin network.

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Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s

The Bitcoin (BTC) network has recorded a brand new hash fee all-time excessive of 248.11M TH/s as of Feb. 12, 2022, further securing the decentralized ecosystem via a rising network of world BTC miners. 

The hash fee correlates to the computing vitality required by a miner’s computer gear to verify a transaction. Doubtlessly the most contemporary spike in BTC’s network hash fee ensures further security against attacks by deterring defective actors from confirming counterfeit transactions.

Bitcoin hash fee all around the final one year. Provide: YCharts

As evidenced by the above screenshot, the network hash fee jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in barely in the end. Moreover, the Bitcoin network’s hash fee stages rose 54.33% all around the final one year. 

Bitcoin hash fee all around the final one month. Provide: YCharts

Previously, China’s blanket ban on crypto mining and trading resulted in issues about the safety of the Bitcoin network, because the Asian nation contributed to 34.25% of the total Bitcoin mining hash fee till June 2021. 

With miners at final finding refuge in other crypto-obliging worldwide locations, the Bitcoin network saw a spicy restoration — at final surpassing the outdated all-time highs.

Bitcoin mining by nation. Provide: ccaf.io

Currently, the miners residing in the United States contribute the most attention-grabbing via the worldwide hash fee of the Bitcoin network, 35.4%. 

Linked: Bitcoin miners bear in mind global hash fee to grow ‘aggressively’

A most contemporary Cointelegraph prognosis from January concluded that the enterprise avid gamers bear in mind that the BTC hash fee will continue to grow. Despite the traders’ fright precipitated by the BTC tag roller-coaster, enterprise consultants pointed out that the Bitcoin network has turn out to be verifiably stronger than ever sooner than.

Michael Levitt, co-founder chairman and CEO of Core Scientific, informed Cointelegraph that he fully anticipates for the BTC global hash fee to continue rising at an aggressive tempo. Nonetheless, he mentioned that this growth is reckoning on the worth of Bitcoin transferring forward, along with the success of the infrastructure at the moment being constructed.