Mean Bitcoin Hash Rate remains at all-time highs despite historically high energy costs

What's new?

Mean Bitcoin Hash Rate remains at all-time highs despite historically high energy costs.

Why is this relevant?

The hash rate is the estimated average number of hashes per second produced by miners in the Bitcoin network. In simpler terms, the hash rate is a measure of the computational power of miners on the Bitcoin network. The higher the hash rate, the higher the theoretical computational power miners have. It is also considered to be a measure of the security of the Bitcoin network because if there are a large number of miners verifying transactions, it is less likely that an attack on the network will occur. As we can see from the chart above, the hash rate remains virtually unaffected by rising energy costs and market uncertainty.

What does the data tell us?

On-chain data shows that Bitcoin’s mean hash rate remains around all-time highs.

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Conclusion
Bitcoin’s hash rate remains virtually unaffected by rising energy costs and market uncertainty, suggesting the Bitcoin network remains as strong and secure as ever.

Nothing in this article constitutes professional and/or financial advice. The content is provided exclusively for informational and/or educational purposes. Nothing is to be construed as an offer or a recommendation to buy or sell any type of asset. Seek independent professional advice in regards to financial, tax, legal and other matters.

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