Bitcoin network turns 13 years old, celebrating a record high hash rate

Today is the 13th year since Bitcoin (Bitcoin) The creator Satoshi Nakamoto mined the genesis block or block 0 of the Bitcoin network and mined 50 BTC for the first time on Monday, 2009. Fast forward to 2022, and the BTC network shows no signs of slowing down, reaching a record high hash rate of 207.53 million tera hashes per second (TH/s).

The Bitcoin hash rate is related to the network strength based on the number of active miners. After China bans citizens and businesses from entering, the Bitcoin hash rate temporarily drops Engage in crypto mining and trading activitiesThe direct result of China’s total ban on cryptocurrency is a sudden shortage of miners. Bitcoin hash rate drops To 58.46 million MHz/sec.

BTC hash rate in June 2021. source: chart

As shown in the figure above, the Bitcoin hash rate eventually rises to Chinese miners begin to move to friendly jurisdictionsOn January 1, 2022, the Bitcoin network hit a record high of 207.53 million TH/s, and the security of the network was restored by increasing the difficulty of mining.

The BTC hash rate in January 2022. source: chart

At the time of writing, the Bitcoin network hash rate is 190.64 million TH/s, which is 8.14% lower than the historical high.

related: Bitcoin holdings of listed companies soar in 2021

As disclosed by on-chain analyst Willy Woo, the BTC holdings of private companies have increased significantly in the previous year.

Cointelegraph’s report on this matter emphasized that Michael Saylor’s MicroStrategy purchases exceeded $6 billion in crypto assetsIn December alone, the company purchased another 1,914 bitcoins worth $94 million.