The hashrate of the Bitcoin network reached a new ATH of 209 exahashes per second on January 1st, a far cry from this summer when it dropped to 61 ETH/s.
The Bitcoin hash rate fell this summer following a series of bans by the Chinese government. As a result, most mining operators have decided to move from China to other countries, such as Russia or the US.
According to the metrics, it seems that the hashrate has recovered and gone to beat the previous records. Furthermore, the mining difficulty is also on a rise and it’s approaching a new ATH as well.
The price of Bitcoin has fallen by 31% compared to the ATH of $68.789 that was recorded in November 2021.