At the peak of China’s crackdown on Bitcoin miners and trading activities within its jurisdiction last year, the Bitcoin mining hashrate declined to an all-time low of 58.4 million terahashes per second as many miners were taken out of business due to the strict anti-crypto policy.
Bitcoin hashrate reaches new ATH
However, a new Glassnode data has now revealed that the Bitcoin hashrate has now fully recovered from the lows of last year and has also gone ahead to set a new all-time high just two days into the new year. According to the data, the Bitcoin hashrate now sits at an all-time high of 208 million terahashes per second.
Bitcoin hashrate refers to the amount of computational power dedicated to the minting of new coins, security and, verification of transactions on the network of the flagship digital asset.
A higher hashrate usually signifies that there are more miners in the space looking to help secure the network; hence, some analysts tend to consider this a bullish sign for
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