The security of the Bitcoin network is increasing, mainly due to the rapid increase in the hash rate.
The amount of power that miners use to verify Bitcoin Blockchain, is growing every day and network security is ever higher.
The Bitcoin hash rate has recently reached a new ATH of 170 exahash, according to glassnode.
The chart focuses mainly on the month of May, when the third BTC Halving took place, which reduced the rewards per block mined from 12.5 BTC to 6.25 BTC. Since then, the hash rate has increased by about 40% and the network is currently highly resistant to any attacks.
Bitcoin mining seems to be a global phenomenon and gaining momentum. Let us just recall last month’s reports when the Iranian government decided to allow power plants to offer surplus electricity exclusively to cryptocurrency miners, as energy authorities face enormous pressure from miners. Another significant report was Kazakhstan’s negotiations on a gigantic investment in crypto mining of $ 714M.
We have also recently brought you a closer look at what types of energy are most used for cryptocurrency mining, and a clear favorite is, according to an extensive survey, renewable energy. On average, up to 39% of POW miners use only renewable energy and up to 76% of them use renewable energy at least as a part of their mix.
Read also: The Bitcoin market is only 2% of the Gold market, which represents a multiple opportunity for expansion
Follow our social media and get news on time