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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.

Bitcoin hash rate historical chart. Source:Bitinfocharts

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

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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