The health of any cryptocurrency ecosystem can be determined in many ways. Its overall hashrate is always an interesting factor to look at.
In the case of bitcoin, everything seems to be moving along nicely.
The Ongoing Bitcoin Hashrate Rise
To start off 2020, the world’s leading cryptocurrency reached a hashrate all-time high.
Not entirely surprising, given how this industry has evolved throughout 2019.
Several hashrate all-time highs have been noted last year.
That trend will now seemingly continue as the new decade trucks along.
An increase in hashrate shows bitcoin mining is still in a very good place.
This is despite the volatile price swings bitcoin has gone through since its inception.
As the cryptocurrency network grows older, mining bitcoin becomes harder.
To counter that aspect, more hashpower is needed to keep generating network blocks.
Where this latest strong increase originates from, remains somewhat unclear.
In recent days, it became apparent that 5nm ASIC mining chips may be rolled out soon.
That can certainly have a big impact on the overall bitcoin mining hashrate.
It is unclear when those chips are effectively put to use on a large scale.
With this new all-time high in the books, the bitcoin network is on track to reach 115 exohash per second.
It is another major milestone for the world’s leading cryptocurrency.
The next hurdle to overcome is 120 exohash per second.
When that will be reached, is difficult to predict under the current circumstances.