Glassnode data shows that the hash rate on the Bitcoin network has reached a new peak
Bitcoin miners are having a good run at present as data from Glassnode shows the hash rate on the network is swinging around a new all-time high. The on-chain analytics provider pointed out that the average hash rate peaked this week, crossing 178 Ehash/s (exa hashes per second).
It is the first time the hash rate has touched a figure this high in Bitcoin’s history. Glassnode is backed by the crypto data aggregator site Bitinfocharts, which shows Bitcoin’s average hash rate is pacing a record high. The average hash rate on Bitinfocharts as of writing is 179.792 Ehash/s – up 10.15% in 24 hours.
The hash rate has only crossed 150 Ehash/s a couple of times this year prior to this current rise. The first time was on February 8th when it reached 151.32 Ehash/s and later on February 25th when it set a new peak of 151.5 Ehash/s. Last month, the hash rate topped the 150 Ehash/s mark once on March 28th when it shot to 150.8 Ehash/s.
Glassnode’s CTO Rafael Schultze-Kraft was first to point out the peaking hash rate among many other Bitcoin miner metrics, which he shared through a Twitter thread. Schultze-Kraft also revealed that Bitcoin mining had increased to a new high at the end of last week.
“In fact, #Bitcoin mining difficulty increased by 5.8% last Friday – to a new ATH as well. Difficulty is up 66% over the past year, and 24% YTD,” he wrote.
The on-chain analyst disclosed that miners raked in north of $50 million daily in March. He explained that they had been enjoying huge