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Bitcoin hash rate increased by 20%. in week

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Bitcoin hash rate is at an all-time high of over 317 EH/s after 20% growth in week. Meanwhile, the BTC price $24,000, up 13% in the last week.

Bitcoin hash rate is up 20%

Bitcoin hash rate He’s at an all-time high, now that he’s gone up 20% in the last seven days. hash rate now in over 317 TH / s, th highest positive modification in the last five years.

Usually, a bitcoin hash has to be provided accurately, eg one I can not pick He. She directly from mining. However, it is a calculated estimate from mining difficulty And block time. Hence, it becomes the weekly averages more precise.

Bitcoin hash rate on February 19 exceeded 320 eh / s, and on 20 February ATH was around 323 EH/s. after peak of over 12 and a half minutes in Bitcoin ban time in In late January, it dropped to less than 10 minutes in February due to high hash rate.

The weekly average came in below 300 EH/s as January drew to a close.

However, it has since increased to an hourly peak on February 16th at 383 eh/s. Weekly averages at the beginning of 2023, the hash rate below 270 EH / s turned out to be a file current growth He was over 20%. Comparatively speaking, there were about 200 EH / sa year since.

Cryptocurrency mining has become more profitable

Cryptocurrency mining revenue in December 2022 was very low, and miners like Argo, Core Scientific, Compute North, and Iris Energy filed for bankruptcy. BTC crossed the $25,000 mark below $20,000 in December, raising revenues in mining companies.

When is BTC price Low, most miners cash in BTC to defray high electricity expenses. However, like BTC price Rise, such as this time, miners can increase the winnings and switch to reduce powerful machines again or even get it more powerful Of which for higher gains.

bitcoin price He is up 13%

Bitcoin kept rising And it gained momentum above the $25,000 mark. after a hike of $25,126.85 earlier today, down to $24,588 at that time of writingand up 13% in the last week. This height took The cryptocurrency has reached the strongest point experienced since June 13, 2022.

Overall, the price fell as the bulls struggled to break above the $25,200 mark. In addition, the Relative Strength Index (RSI) is still unable to cross the 66.00 mark and it is currently Tracked at 63.29.

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