Bitcoin Hash Rate Hits New High, But Profitability Falls

Bitcoin network chop rate has reached A new all the time high of on 540 exasperated by second. However, chop price And profitability are shipwreck once again.

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Bitcoin network computing power — Or mining chop rate — reached A new all the time high on Christmas day, but has put putting more pressure on minors in the middle of A slump In profitability.

On Dec. 25, Bitcoin chop rate reached A all the time high of 544 exasperated by second (EH/s), according to has Blockchain.com. THE data was confirmed by Bitinfo Charts, which reported A average chop rate peak on THE weekend.

He come as network chop rates to have more that double This year, escalation 130% Since January.

A chart representative Bitcoin chop rate on THE course of 2023. Source: Blockchain.com

On THE even period that BTC chop rates to have increase, THE assets price has virtually mirrored THE chart, escalation more that 150% Since Jan. 1, 2023.

Reflexivity Research co-founder Will Clemente look at has THE chop rate on A logarithmic ladder commenting, "THE summer 2021 China mining to forbid East barely A spot," said Clemente. "Imagine discoloration THE most secure decentralized Open source monetary network on THE planet, I could not be me."

A high chop rate can be Good For theoretical price models such as implicit hash adjusted price, but he East not GOOD news For minors WHO must work Stronger has secure THE following block.

Chop price, A measure of profitability, has fallen on THE pass week as THE BRC-20 ordinal inscription craze cooled. Chop price East Currently $0.09 by terahashes by second by day,