New Record in Bitcoin Hash Rate

A new record has been reached in Bitcoin hash rate. The hash rate, which was recorded as 248 exahash yesterday, increased by 32 percent in one day.

The hash rate, which expresses the total computing power of the hardware used in Bitcoin mining, has increased by more than 30 percent as of yesterday, breaking a new record. According to BTC.com data, the hash rate has increased to 248 exahash per second. The previous highest level was recorded as 216 exahash on January 13. The chart shows that the demand for Bitcoin mining is increasing despite the drop in prices. As is known, last year, hundreds of thousands of mining device orders were given to manufacturers. The delivery of many of these devices was delayed until 2022. Expectations are that the hash rate will continue to break records as the devices are delivered. Looking at the geographical distribution of global Bitcoin mining, the USA takes the first place. The share of the USA is 35.40 percent, followed by Kazakhstan with 18.10 percent and Russia with 11.23 percent. Meanwhile, China's share of mining was 70 percent in May 2021 and has been zeroed out with a complete ban on crypto mining in the country. With the hash rate breaking a record in Bitcoin, the mining difficulty, which is automatically adjusted every two weeks according to the changes in the hash rate, is also expected to peak. Current network data shows that after four days, the adjusted difficulty will reach 27.1 trillion.