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

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

The hash rate correlates to the computing energy required by a miner’s laptop gear to verify a transaction. The latest spike in BTC’s network hash rate ensures additional safety towards assaults by deterring dangerous actors from confirming fraudulent transactions.

Bitcoin hash rate over the previous 12 months. Source: YCharts

As evidenced by the above screenshot, the network hash rate jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in simply sooner or later. Moreover, the Bitcoin network’s hash rate ranges rose 54.33% over the previous 12 months. 

Bitcoin hash rate over the previous one month. Source: YCharts

Previously, China’s blanket ban on crypto mining and buying and selling led to considerations in regards to the safety of the Bitcoin network, because the Asian nation contributed to 34.25% of the overall Bitcoin mining hash rate till June 2021. 

With miners finally discovering refuge in different crypto-friendly nations, the Bitcoin network noticed a sharp restoration — finally surpassing the earlier all-time highs.

Bitcoin mining by nation. Source: ccaf.io

Currently, the miners residing within the United States contribute the best in phrases of the worldwide hash rate of the Bitcoin network, 35.4%. 

Related: Bitcoin miners consider world hash rate to develop ‘aggressively’

A latest Cointelegraph evaluation from January concluded that the business gamers consider that the BTC hash rate will proceed to develop. Despite the buyers’ panic induced by the BTC value roller-coaster, business specialists identified that the Bitcoin network has develop into verifiably stronger than ever earlier than.

Michael Levitt, co-founder chairman and CEO of Core Scientific, instructed Cointelegraph that he absolutely anticipates for the BTC world hash rate to proceed rising at an aggressive tempo. However, he talked about that this development depends on the worth of Bitcoin transferring ahead, together with the success of the infrastructure presently being constructed.