{"id":1501440,"date":"2024-11-10T00:15:00","date_gmt":"2024-11-10T05:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1501440"},"modified":"2024-11-10T00:15:00","modified_gmt":"2024-11-10T05:15:00","slug":"visualizing-the-rise-of-bitcoins-hashrate","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/visualizing-the-rise-of-bitcoins-hashrate\/1501440\/","title":{"rendered":"Visualizing The Rise Of Bitcoin’s Hashrate"},"content":{"rendered":"

Visualizing The Rise Of Bitcoin’s Hashrate<\/span><\/p>\n

\n

The computing power used to mine bitcoin is at all-time highs, rising by more than sixfold since November 2019.<\/strong><\/p>\n

Today, 94% of bitcoin\u2019s supply has been mined out of the total cap of 21 million. To mine bitcoin, powerful computers solve complex math problems that validate and secure the network. The total computing power, or bitcoin hashrate, measures how many guesses per second are made to solve these calculations.<\/strong><\/p>\n

This graphic, via Visual Capitalist’s Dorothy Neufeld, <\/a>shows bitcoin\u2019s hashrate since 2016, based on data from\u00a0Blockchain.com<\/a>.<\/p>\n

<\/a><\/p>\n

Bitcoin Hashrate Hits Record Highs<\/h2>\n

Below, we show how the total bitcoin hashrate hit a 693.1 million terahashes per second in late October, rising significantly over the past month:<\/p>\n

Date
\n\t\t\tBitcoin Price (USD)
\n\t\t\tTotal Hashrate (Terahashes per second)
\n\t\tOct 30 2024
\n\t\t\t$70,287
\n\t\t\t693.1M
\n\t\tOct 2024
\n\t\t\t$62,051
\n\t\t\t641.4M
\n\t\tSep 2024
\n\t\t\t$56,157
\n\t\t\t637.6M
\n\t\tAug 2024
\n\t\t\t$60,675
\n\t\t\t615.9M
\n\t\tJul 2024
\n\t\t\t$57,042
\n\t\t\t580.4M
\n\t\tJun 2024
\n\t\t\t$70,542
\n\t\t\t599.4M
\n\t\tMay 2024
\n\t\t\t$64,023
\n\t\t\t624.0M
\n\t\tApr 2024
\n\t\t\t$67,857
\n\t\t\t604.8M
\n\t\tMar 2024
\n\t\t\t$63,154
\n\t\t\t574.9M
\n\t\tFeb 2024
\n\t\t\t$42,658
\n\t\t\t524.7M
\n\t\tJan 2024
\n\t\t\t$42,862
\n\t\t\t506.4M
\n\t\tDec 2023
\n\t\t\t$44,084
\n\t\t\t476.6M
\n\t\tNov 2023
\n\t\t\t$35,035
\n\t\t\t446.6M
\n\t\tOct 2023
\n\t\t\t$27,429
\n\t\t\t407.4M
\n\t\tSep 2023
\n\t\t\t$25,970
\n\t\t\t387.1M
\n\t\tAug 2023
\n\t\t\t$29,076
\n\t\t\t380.4M
\n\t\tJul 2023
\n\t\t\t$30,499
\n\t\t\t370.0M
\n\t\tJun 2023
\n\t\t\t$25,742
\n\t\t\t358.1M
\n\t\tMay 2023
\n\t\t\t$29,039
\n\t\t\t346.4M
\n\t\tApr 2023
\n\t\t\t$27,812
\n\t\t\t331.0M
\n\t\tMar 2023
\n\t\t\t$22,351
\n\t\t\t293.6M
\n\t\tFeb 2023
\n\t\t\t$22,936
\n\t\t\t273.5M
\n\t\tJan 2023
\n\t\t\t$16,669
\n\t\t\t250.1M
\n\t\tDec 2022
\n\t\t\t$16,966
\n\t\t\t256.0M
\n\t\tNov 2022
\n\t\t\t$21,300
\n\t\t\t261.8M
\n\t\tOct 2022
\n\t\t\t$19,633
\n\t\t\t232.6M
\n\t\tSep 2022
\n\t\t\t$19,835
\n\t\t\t211.4M
\n\t\tAug 2022
\n\t\t\t$22,624
\n\t\t\t200.0M
\n\t\tJul 2022
\n\t\t\t$20,154
\n\t\t\t214.5M
\n\t\tJun 2022
\n\t\t\t$29,902
\n\t\t\t216.5M
\n\t\tMay 2022
\n\t\t\t$37,720
\n\t\t\t209.1M
\n\t\tApr 2022
\n\t\t\t$46,422
\n\t\t\t199.9M
\n\t\tMar 2022
\n\t\t\t$39,167
\n\t\t\t198.4M
\n\t\tFeb 2022
\n\t\t\t$41,405
\n\t\t\t187.3M
\n\t\tJan 2022
\n\t\t\t$46,460
\n\t\t\t173.9M
\n\t\tDec 2021
\n\t\t\t$49,484
\n\t\t\t161.2M
\n\t\tNov 2021
\n\t\t\t$61,006
\n\t\t\t149.1M
\n\t\tOct 2021
\n\t\t\t$48,234
\n\t\t\t136.6M
\n\t\tSep 2021
\n\t\t\t$50,025
\n\t\t\t121.9M
\n\t\tAug 2021
\n\t\t\t$39,722
\n\t\t\t101.3M
\n\t\tJul 2021
\n\t\t\t$33,698
\n\t\t\t120.1M
\n\t\tJun 2021
\n\t\t\t$35,539
\n\t\t\t159.7M
\n\t\tMay 2021
\n\t\t\t$57,213
\n\t\t\t157.3M
\n\t\tApr 2021
\n\t\t\t$57,094
\n\t\t\t160.6M
\n\t\tMar 2021
\n\t\t\t$48,369
\n\t\t\t154.6M
\n\t\tFeb 2021
\n\t\t\t$38,311
\n\t\t\t149.4M
\n\t\tJan 2021
\n\t\t\t$33,081
\n\t\t\t136.7M
\n\t\tDec 2020
\n\t\t\t$18,658
\n\t\t\t129.0M
\n\t\tNov 2020
\n\t\t\t$14,161
\n\t\t\t130.5M
\n\t\tOct 2020
\n\t\t\t$10,795
\n\t\t\t135.2M
\n\t\tSep 2020
\n\t\t\t$10,168
\n\t\t\t123.9M
\n\t\tAug 2020
\n\t\t\t$11,233
\n\t\t\t121.3M
\n\t\tJul 2020
\n\t\t\t$9,139
\n\t\t\t112.5M
\n\t\tJun 2020
\n\t\t\t$9,788
\n\t\t\t103.1M
\n\t\tMay 2020
\n\t\t\t$9,029
\n\t\t\t112.0M
\n\t\tApr 2020
\n\t\t\t$6,778
\n\t\t\t105.9M
\n\t\tMar 2020
\n\t\t\t$8,758
\n\t\t\t111.5M
\n\t\tFeb 2020
\n\t\t\t$9,614
\n\t\t\t109.1M
\n\t\tJan 2020
\n\t\t\t$7,334
\n\t\t\t96.3M
\n\t\tDec 2019
\n\t\t\t$7,394
\n\t\t\t91.7M
\n\t\tNov 2019
\n\t\t\t$9,322
\n\t\t\t95.1M
\n\t\tOct 2019
\n\t\t\t$8,240
\n\t\t\t89.5M
\n\t\tSep 2019
\n\t\t\t$10,628
\n\t\t\t74.8M
\n\t\tAug 2019
\n\t\t\t$10,978
\n\t\t\t67.0M
\n\t\tJul 2019
\n\t\t\t$11,005
\n\t\t\t57.4M
\n\t\tJun 2019
\n\t\t\t$7,789
\n\t\t\t50.4M
\n\t\tMay 2019
\n\t\t\t$5,657
\n\t\t\t45.8M
\n\t\tApr 2019
\n\t\t\t$4,976
\n\t\t\t45.0M
\n\t\tMar 2019
\n\t\t\t$3,701
\n\t\t\t44.0M
\n\t\tFeb 2019
\n\t\t\t$3,428
\n\t\t\t41.9M
\n\t\tJan 2019
\n\t\t\t$3,788
\n\t\t\t38.3M
\n\t\tDec 2018
\n\t\t\t$3,694
\n\t\t\t42.9M
\n\t\tNov 2018
\n\t\t\t$6,404
\n\t\t\t51.3M
\n\t\tOct 2018
\n\t\t\t$6,466
\n\t\t\t51.3M
\n\t\tSep 2018
\n\t\t\t$7,257
\n\t\t\t49.0M
\n\t\tAug 2018
\n\t\t\t$7,005
\n\t\t\t40.0M
\n\t\tJul 2018
\n\t\t\t$6,533
\n\t\t\t37.4M
\n\t\tJun 2018
\n\t\t\t$7,613
\n\t\t\t31.7M
\n\t\tMay 2018
\n\t\t\t$9,726
\n\t\t\t28.5M
\n\t\tApr 2018
\n\t\t\t$7,425
\n\t\t\t25.2M
\n\t\tMar 2018
\n\t\t\t$11,470
\n\t\t\t22.3M
\n\t\tFeb 2018
\n\t\t\t$6,905
\n\t\t\t18.2M
\n\t\tJan 2018
\n\t\t\t$15,098
\n\t\t\t13.6M
\n\t\tDec 2017
\n\t\t\t$11,718
\n\t\t\t9.9M
\n\t\tNov 2017
\n\t\t\t$7,392
\n\t\t\t9.4M
\n\t\tOct 2017
\n\t\t\t$4,308
\n\t\t\t7.9M
\n\t\tSep 2017
\n\t\t\t$4,626
\n\t\t\t6.4M
\n\t\tAug 2017
\n\t\t\t$2,857
\n\t\t\t6.1M
\n\t\tJul 2017
\n\t\t\t$2,617
\n\t\t\t5.1M
\n\t\tJun 2017
\n\t\t\t$2,698
\n\t\t\t4.5M
\n\t\tMay 2017
\n\t\t\t$1,533
\n\t\t\t3.8M
\n\t\tApr 2017
\n\t\t\t$1,152
\n\t\t\t3.5M
\n\t\tMar 2017
\n\t\t\t$1,274
\n\t\t\t3.2M
\n\t\tFeb 2017
\n\t\t\t$1,016
\n\t\t\t2.8M
\n\t\tJan 2017
\n\t\t\t$1,021
\n\t\t\t2.3M
\n\t\tDec 2016
\n\t\t\t$768
\n\t\t\t2.0M
\n\t\tNov 2016
\n\t\t\t$706
\n\t\t\t1.8M
\n\t\tOct 2016
\n\t\t\t$613
\n\t\t\t1.7M
\n\t\tSep 2016
\n\t\t\t$606
\n\t\t\t1.6M
\n\t\tAug 2016
\n\t\t\t$573
\n\t\t\t1.5M
\n\t\tJul 2016
\n\t\t\t$682
\n\t\t\t1.5M
\n\t\tJun 2016
\n\t\t\t$576
\n\t\t\t1.4M
\n\t\tMay 2016
\n\t\t\t$450
\n\t\t\t1.3M
\n\t\tApr 2016
\n\t\t\t$422
\n\t\t\t1.2M<\/p>\n

Since bitcoin\u2019s fourth halving in April 2024, the hashrate has hit all-time highs, while bitcoin\u2019s price has increased by roughly 4% as of November 4, 2024.<\/p>\n

During each\u00a0halving event<\/a>, which occurs every four years, the reward for mining bitcoin is cut in half. In April, it dropped from 6.25 to 3.125 bitcoins, making it harder for miners to turn a profit with unchanged operating costs.<\/p>\n

Despite this, rising hashrates indicate a rising number of active miners, signaling a bullish outlook. As bitcoin\u2019s price rises, it incentivizes miners to join the network since it becomes more profitable, pushing up the hashrate.<\/p>\n

Today, notable miners include publicly traded companies like Core Scientific, Riot Platforms, and Marathon Digital, which operate machines capable of trillions of hashes per second using specialized hardware. For instance, Core Scientific runs 169,000 miners, while Riot Platforms aims to fully deploy at least 100,000 miners by 2025.<\/p>\n

Still, performance varies across major bitcoin mining companies this year. While Core Scientific stands as one of the top-performing miners year-to-date, with 267% returns as of November 4, both Riot Platforms and Marathon Digital have declined over 20%. By comparison, bitcoin has risen 53%, approaching record highs seen in March.<\/p>\n

To learn more about this topic from a crypto ownership perspective, check out this\u00a0graphic<\/a>\u00a0on the largest corporate holders of bitcoin.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 11\/09\/2024 – 19:15<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/visualizing-rise-bitcoins-hashrate<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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