Coinspeaker
Bitcoin Hashrate Growth Hits Pause as Competition Heats Up
The Bitcoin mining hashrate is slowing down after months of fast growth. As reported by CoinDesk, quoting TheMinerMag data, the Bitcoin hashrate dropped in January, marking the first decline since September. While large mining companies continue to grow their operations, smaller miners find it harder to keep up.
Bitcoin Mining Hashrate: Public Miners Still in Control
Despite the slowdown, Bitcoin mining is still a billion-dollar industry, bringing in $1.4 billion in revenue last month. As reported by Coinspeaker, Bitcoin mining difficulty recently hit a record high of 110 trillion, showing intense mining activity. This surge in mining has played a big role in boosting revenue.
It is worth noting that the Bitcoin hashrate is the total computational power that miners uses to process transactions. This way, they get to secure the Bitcoin network with a higher hashrate implying better safety and vice-versa.
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