30s Summary

Bitcoin has registered a record-breaking hashrate of 769.8 exahashes per second on October 21st, owing to improvements in Bitcoin mining gear. This increase not only signifies a more secure network, but also makes mining a single Bitcoin more expensive. With the decreasing block reward post the 2024 Bitcoin halving, only large mining companies might remain operational.

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Bitcoin’s computing power, also known as the hashrate, just broke a new record, making Bitcoin’s first blockchain network even more secure. On October 21st, it reached an unprecedented amount of 769.8 exahashes per second. Since 2021, the hashrate has been steadily climbing, thanks to improvements in Bitcoin mining gear like ASICs.

While more hashrate means a more secure network, it also makes mining a single Bitcoin pricier. In combination with the decreasing block reward from the 2024 Bitcoin halving, this increase in hashrate could result in only the biggest mining companies remaining in the game. We’ll keep you in the loop as we learn more.

Source: Cointelegraph