Glassnode has announced that, according to its data, the average hash rate for Bitcoin has reached a new ATH this week, after it crossed a daily average of 178 exahashes per second, which is a first-time in history.
The record was also confirmed by Bitinfocharts, which has reported a current hash rate of 176 EH/s.
The hashrate is seen as being the computing “horsepower” for the Bitcoin network, and it represents an important sign of its security. Basically, the higher the hashrate grows, the harder it is for hackers to have success in attacking the network.
Mining Is More Profitable Than Ever
It has been reported that Bitcoin miners have made over $50 million/day over the previous month. A year ago, miners could have made around $12 million/day.
Is it also known that miners now tend to hold to the new coins they are minting since the net position has flipped back to green, confirms Glassnode. Before the $40K level was reached, miners were usually selling in order to cover their costs, but now they tend to become hodlers.