The hash rate of Bitcoin has remained stable throughout the year, complimenting the new ATH for BTC network difficulty.
On Friday, the Bitcoin (BTC) network’s mining difficulty reached an all-time high of 28.587 trillion, just as miners helped release the 19th millionth BTC into circulation.
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According to statistics from Blockchain.com, Bitcoin’s network difficulty is proportional to the processing power required to mine BTC blocks, which presently requires a hash rate of 201.84 exahash per second (EH/s).
Bitcoin’s hash rate remained robust throughout the year, reaching an all-time high of 248.11 EH/s on Feb. 13 to support the increase in network difficulty.
By contributing to at least 51 percent of the Bitcoin hash rate, a greater hash rate provides resilience against double-spending assaults, which is the process of undoing BTC transactions over the blockchain.
The BTC network difficulty declined slightly from 27.96 trillion to 27.55 trillion on March 4, almost a month before achieving an all-time high, and then fell to 27.45 trillion until March 30. Prior to it, the Bitcoin network has been steadily growing since July 2021.
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The BTC network is projected to become stronger as it supports the flourishing community, with just 2 million BTC remaining to mine as incentives and an inflow of Bitcoin miners from all around the world. Due to considerations such as halving, it is anticipated that the remaining 2 million BTC (out of a total supply of 21 million) will be mined roughly by the year 2140.
LFG (Luna Foundation GuardTerra )’s wallet collected $139 million in BTC on March 30, boosting its total holdings to 31,000 BTC, or $1.47 billion.
