Bitcoin Network Thrives as Hashrate Reaches All-Time High

Bitcoin’s hashrate recently achieved an unprecedented milestone, surging to 464 exahash per second (EH/s) on November 1, 2023.

Despite the network’s difficulty level remaining exceptionally high at 62.46 trillion, this remarkable increase indicates the strength of Bitcoin miners. The seven-day average displayed this record-breaking moment, with the three-day simple moving average revealing an even higher hashrate of 468 EH/s.

This achievement is significant, as it demonstrates the robustness of the Bitcoin network and the profitability of mining, with miners now earning a daily reward of $70.75 per petahash per second (PH/s). A variety of mining pools are actively contributing to the network, including Foundry USA, Antpool, F2pool, Viabtc, and Binance Pool, with the countdown to the next halving event approaching.

Clever Robot News Desk 3^rd November 2023