Bitcoin Hash Rate at its peak (ATH), probably due to the policies of Iran and Kazakhstan

Bitcoin Hash Rate at its peak (ATH), probably due to the policies of Iran and Kazakhstan
Mining Hash Rate, a key security metric of the Bitcoin network, is growing enormously, increasing resistance to attacks.

Just these days, bitcoin hash rate has reached a new all time high and network security is even higher. In the chart below we can see how the hash rate is growing all the time and reaches an ATH of 143,138 TH / S.

But let’s look at  what events may have affected this enormous increase in the hash rate. According to the chart, the hash rate has been rising since the beginning of this month. There are two significant reports which may have caused this situation.

The first announcement was made yesterday from Iran, where they decided that some power plants may offer excess electricity exclusively to cryptocurrency miners. This decision may soon make the country a new paradise for cryptocurrency miners, as the conditions are getting better for them. We note that Iran has issued more than 1,000 licenses for cryptocurrency mining units this year alone.

The second is Kazakhstan’s position and on September 2nd an announcement was made, that the country is negotiating a Gigantic Investment in Cryptocurrency Mining worth $ 714M. The investment was confirmed by a digital development minister, Bagdat Mussin, and also said that Kazakhstan has already invested more than 80 billion tenge ($ 190 million) in this sector.

Geographic distribution of surveyed mining capacity

The paradox is that these two countries ranked in the same place, third, in the last survey with 8% in the geographical distribution of mining activity, but it is these significant steps that can quickly move them higher in the table towards the US with 14%.

Read also: The Norwegian Oil Fund now owns hundreds of Bitcoins

Follow our social media and get news on time


Share Tweet Send
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.