Mining
The computing energy of the Bitcoin community reached its all-time excessive earlier this week. Information from Blockchain.com confirmed the entire hash charge reached as excessive as 320 EH/s between Feb. 20 and Feb. 26, posting a ten% enhance for the reason that starting of the month.
Such a notable enhance in hash charge can principally be attributed to an increase in uptime for miners situated within the U.S. All through December. The U.S. was hit with extreme winter storms that strained the nation’s energy grid and compelled many miners to curtail their operations to keep up grid stability.
The start of the yr introduced on way more favorable climate circumstances that stabilized the grid and enabled miners within the nation to attain a considerably increased uptime. This continued all through February, enabling miners within the U.S. — which make up 51% of Bitcoin’s international hashrate — to extend their mining capability.
The height in Bitcoin’s hash charge additionally correlates with a rise in Bitcoin’s value, which noticed a strong rebound in mid-February regardless of persisting macro uncertainty.
