{"id":810,"date":"2022-01-03T03:24:15","date_gmt":"2022-01-03T03:24:15","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=810"},"modified":"2022-01-03T03:24:16","modified_gmt":"2022-01-03T03:24:16","slug":"bitcoin-hashrate-recovers-reaches-new-ath","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=810","title":{"rendered":"Bitcoin hashrate recovers, reaches new ATH"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>At the peak of China\u2019s crackdown on Bitcoin miners and trading activities within its jurisdiction last year, the Bitcoin mining hashrate declined to an all-time low of 58.4 million terahashes per second as many miners were taken out of business due to the strict anti-crypto policy.<\/p>\n<h2>Bitcoin hashrate reaches new ATH<\/h2>\n<p>However, a new Glassnode data has now revealed that the Bitcoin hashrate has now fully recovered from the lows of last year and has also gone ahead to set a new all-time high just two days into the new year. According to the data, the Bitcoin hashrate now sits at an all-time high of 208 million terahashes per second.<\/p>\n<p>Bitcoin hashrate refers to the amount of computational power dedicated to the minting of new coins, security and, verification of transactions on the network of the flagship digital asset.<\/p>\n<p>A higher hashrate usually signifies that there are more miners in the space looking to help secure the network; hence, some analysts tend to consider this a bullish sign for the industry.<\/p>\n<h2>Bitfury says miners relocation is not responsible for the growth<\/h2>\n<p>Speaking on how the industry has been able to shed the negatives of the previous year, a leading crypto mining firm, Bitfury, in a statement to <em>FT<\/em>, stated that \u201cthe recovery is attributable to new-generation equipment coming online, not the relocation of equipment from China.\u201d<\/p>\n<p>What this means is that while the relocation of many of the miners to new locations like the United States or even Russia played a role in keeping the industry afloat during the Chinese crackdown, the recovery of the space could also be majorly tied to BTC miners\u2019 attempt at widening their horizon.<\/p>\n<p>The head of technology at Hut 8 Mining Corp, Jason Zaluski, further corroborates this view as he said that China\u2019s ban only prompted \u201c a geographic shift.\u201d<\/p>\n<p>For example, while some Chinese miners are still grappling with how to get cheap energy for their data centers, Marathon Digital, a US-based mining firm, revealed that its mining activities could hit a new high by the middle of this year when all of its Bitcoin miners have been deployed in Texas.<\/p>\n<p>As of press time, available data on <em>CryptoSlate<\/em> shows that the asset has lost over 7% of its value within the last seven days.<\/p>\n<p>Posted In: Bitcoin, Mining <\/p>\n<p><h2>CryptoSlate Newsletter<\/h2>\n<\/p>\n<p>Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.<\/p>\n<h2>Get an edge on the cryptoasset market<\/h2>\n<p>Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/bitcoin-hashrate-recovers-reaches-new-ath\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the peak of China\u2019s crackdown on Bitcoin miners and trading activities within its jurisdiction last year, the Bitcoin mining hashrate declined to an all-time low of 58.4 million terahashes per second as many miners were taken out of business due to the strict anti-crypto policy. Bitcoin hashrate reaches new ATH However, a new Glassnode [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=810"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/810\/revisions"}],"predecessor-version":[{"id":812,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/810\/revisions\/812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/811"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}