Bitcoin Hash Rate Hits New All-Time High, Despite BTC Price Pullback

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Mon, 03/02/2020 - 10:00
Yuri Molchan
The hash rate of the most valuable cryptocurrency has reached another all-time high, making the Bitcoin network stronger amid the price rollback
Cover image via www.shutterstock.com

Bitcoin has been under seller pressure and is currently sitting in the $8,600 area. However, the halving is drawing closer and the community is hoping that the flagship crypto will significantly rise in value once it occurs.

And, new data from blockchain.com has come in, saying that on March 1 the Bitcoin hash rate reached a new peak value – 136,264,980 TH/s. The previous all-time high, on February 1, was 119 EH/s.

Image via blockchain.com

Despite the current hold-up in the BTC price rise, the network continues growing stronger.

Even though some crypto experts assumed that quite a few miners may start switching their gear off after the halving, so far it looks like more mining rigs are joining the network.

Earlier, U.Today reported that blockchain expert Alex de Vries stated that 98 percent of Bitcoin mining rigs will soon be e-waste as they are about to become outdated.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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