Insights

Bitcoin hash rate hits ATH after 34% YOY growth

exchange68September 13, 2024

0 1 1 minute read

Definition

This metric presents the percent change of the Bitcoin hash rate adjustment.

Quick Take

Over a 7DMA, Bitcoin hash rate hit 300 TH/s and continues to put in new highs.
During 2023, the hash rate has only had five single downward adjustments to show the consistency of the network and its current strength.
The hash rate has grown by 34% YOY and 50% over the past two years.
The China ban during the summer of 2021 was the biggest single event that affected the hash rate, which saw a drop of 35%.

Hash Rate adjustment: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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