Bitcoin Hashpower Surpasses Zettahash Level

Bitcoin successfully taps its all-time high (ATH) hashrate on 3rd January 2022 when it surpassed 209 EH/s and moved into the level of 224.32 EH/s. In the year 2021, Bitcoin value gains weren’t the only best thing that Bitcoin had seen but also its normal hashrate of 141.55 EH/s also surged by more than 48%.

There are several pools of groups that are providing processing power to Bitcoin. However, the processing power was never so much impressive as it stands today. On 1st January 2022, the Bitcoin hashrate went above the 209.39 EH/s, which in itself was the first milestone of 2022. However, two days later on 3rd January 2022, Bitcoin surpassed another milestone. This time Bitcoin managed to see its hashrate jumping from 209.39 EH/s to over 224.32 EH/s. This is, by all intents and purposes, was the ATH hashrate Bitcoin ever achieved.

The monthly average for Bitcoin’s hashrate suggests that for the whole month, Bitcoin will utilize power processing over 203.64 EH/s.

Bitcoin achieved its best rate ever also in the month of December 2021. At that time it successfully utilized hashpower above 194.95 EH/s. Since then, however, the hashrate has surged by more than 48% which made Bitcoin cross the zettahash level as well. Zeetahash level has never been seen earlier at any stage by Bitcoin.

It is assumed that the hashpower for Bitcoin has increased since China disbanded Bitcoin mining completely. However, when China enforced the decision, it took the hashpower to a higher low level of 64 EH/s. Thanks to worldwide manners which came in aid of Bitcoin quickly and acclaimed the burden sent by Chinese authorities on Bitcoin mining. China’s Bitcoin mining vacuum was utilized by miners across the world, particularly in countries that are geographically situated near China. While determining the opportunity, they quickly shifted their Bitcoin mining farms out of China. Gradually, Bitcoin’s hashrate skyrocketed from 64 EH/s to over 202.98 EH/s.

China’s place has been taken over by the US and US miners are currently the most active Bitcoin miners in the world. Amongst the major Bitcoin mining pools are miners such as Foundry USA and Antpool. Both have been collectively providing processing power to Bitcoin with an average rate of 35%. Other than the two, there are 11 more mining pools that have been supplying processing power to Bitcoin. Also, Bitcoin is deriving processing power from a source which is called “stealth miners”.  These unknown and unidentified miners have been literally providing 3.81% of the total Bitcoin hashrate.

In any case, an increase in the mining rate will only benefit Bitcoin miners who will be keeping the lion’s share. However, Bitcoin traders are more interested in seeing Bitcoin gaining some credible value gains, which apparently isn’t happening yet. Still, Bitcoin is trading under the US$ 50,000 level i.e. nearing US$ 47,000 only.

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