Bitcoin network hash rate hit a new record high amid price volatility
The hash rate of the Bitcoin (BTC) network hit a new ATH of 258 EH/s on Thursday, seeing a 400% increase since the mining ban by China last year. The recent rise in the BTC network hash rate signifies the growing number of miners on the blockchain.
Bitcoin network also saw an increase in mining difficulty to new historic highs, reaching 29.70 trillion. A rise in the mining difficulty signifies that more miners are competing against each other to mine the next block.