BTC Hash Rate Strikes New Milestone, Miner Reserves Plummet To 1 Year Low

Bitcoin is seeing new records in network activity as volatility sends Bitcoin price action to fresh five-month highs. Data from resources including MiningPoolStats confirms that BTC’s hash rate hit new all-time highs on 26th January.

In another instance of BTC’s impressive recovery from the pits of post-FTX woes, network hashing power is now bigger than ever.

Hash rate, which is an expression of the processing power dedicated to the network by miners, is currently at three hundred and twenty one EH/s, as per MiningPoolStats raw data.

In spite of being only an approximation the latest readings are quite the feat, having never crossed the three hundred EH/s level before.

In part of a Twitter response to the data, renowned commentator BTC Archive wrote “Your wealth is more secure than ever!”, which is suggesting the improvement in the sentiment across the BTC domain.

It is to be noted that hash rate is an important component of BTC security and noteworthy drawdowns result in network difficulty advancing to entice more miners to participate.

As per latest data from BTC.com, the next automated readjustment will send complexity an approximated 2.75 percent higher to over thirty eight trillion.

Notably, the earlier readjustment delivered over ten percent increase, BTC’s largest since the month of October last year and only the 2nd double-digit hike since mid-2021.