Data shows Bitcoin mining hashrate is now near its all-time high (ATH) set back in April. Here’s what it may mean for the price of the crypto. Bitcoin Mining Hashrate Nears A New ATH According to on-chain data, the BTC network hashrate seems to be approaching the ATH it set back in April of this year. The “hashrate” is an indicator that shows the total amount of computing power connected to the Bitcoin blockchain network. On the BTC blockchain, miners compete with each other by solving complex algorithms so that they can handle transactions. For this purpose, miners require a high amount of computing power. Thus, a high amount of hashrate means there is a lot of power present on the Bitcoin network, which can help the chain perform faster and more efficiently Also, high values of the indicator may also imply that there are a lot of nodes (that is, miners) connected to the network. Therefore, such values can lead to better decentralization of the BTC network. This helps make the blockchain more secure against any possible attacks. On the other hand, if a crypto network has low hashrate, the chain may show poor performance, and it might also have worse security. Related Reading | Why “Bitcoin Creator” Craig Wright Came Out Ahead Despite Having To Pay $100 Million Now, here is a chart that shows the trend in the value of the Bitcoin hashrate over the past year: Looks like the value of this indicator has bee...
