{"id":3705,"date":"2022-01-03T11:49:00","date_gmt":"2022-01-03T11:49:00","guid":{"rendered":"http:\/\/egrowonline.com\/?p=3705"},"modified":"2022-01-03T11:49:00","modified_gmt":"2022-01-03T11:49:00","slug":"bitcoin-network-turns-13-celebrates-with-new-hash-rate-all-time-high","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=3705","title":{"rendered":"Bitcoin network turns 13, celebrates with new hash rate all-time high"},"content":{"rendered":"


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Monday marks the 13th year since Bitcoin\u2019s\u00a0creator, Satoshi Nakamoto, mined the genesis block or block 0 of the Bitcoin network and, for the first time, mined a reward of 50 Bitcoin (BTC<\/a>) back on Jan. 3, 2009. Fast-forward to 2022, the Bitcoin network shows no signs of slowing down by reaching a new all-time high hash rate of 207.53 exahashes per second (EH\/s).<\/p>\n

The Bitcoin hash rate, which correlates to the strength of the network based on the number of active miners, saw a temporary downfall after China had banned citizens and businesses from pursuing crypto mining and trading activities<\/a>. As a direct result of China\u2019s blanket ban on crypto causing a sudden shortage of miners, the Bitcoin hash rate fell<\/a> to 58.46 EH\/s. <\/p>\n

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Bitcoin hash rate in June 2021. Source:\u00a0YCharts<\/a><\/em><\/figcaption><\/figure>\n

As evidenced by the above graph, Bitcoin\u2019s hash rate saw an eventual comeback as Chinese miners began migrating to friendly jurisdictions<\/a>. On Saturday, the Bitcoin network recorded a new all-time high of 207.53 EH\/s, reclaiming the network\u2019s security by increasing the mining difficulty.<\/p>\n

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Bitcoin hash rate in January 2022. Source: YCharts<\/a><\/em><\/figcaption><\/figure>\n

At the time of writing, the Bitcoin network hash rate stands at 190.64 EH\/s, down 8.14% from its all-time high.<\/p>\n

Related:<\/em> <\/strong>Bitcoin holdings of public companies have surged in 2021<\/em><\/strong><\/a><\/p>\n

BTC holdings of private corporations significantly increased last year, as revealed by on-chain analyst Willy Woo.<\/p>\n

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Since MicroStrategy’s “Bitcoin for Corporations” conference in Feb 2021, public companies* holding significant BTC have gained market share from spot ETFs** as a way to access BTC exposure on public equity markets.<\/p>\n

* MicroStrategy & public mining companies
** Mainly Grayscale pic.twitter.com\/e18OEfgiEW<\/a><\/p>\n

\u2014 Willy Woo (@woonomic) January 2, 2022<\/a><\/p><\/blockquote>\n

A Cointelegraph report on the matter highlights that purchases made by Michael Saylor\u2019s MicroStrategy exceeded\u00a0$6 billion in crypto assets<\/a>. In December alone, the firm purchased a further 1,914 BTC worth $94 million.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Monday marks the 13th year since Bitcoin\u2019s\u00a0creator, Satoshi Nakamoto, mined the genesis block or block 0 of the Bitcoin network and, for the first time, mined a reward of 50 Bitcoin (BTC) back on Jan. 3, 2009. Fast-forward to 2022, the Bitcoin network shows no signs of slowing down by reaching a new all-time high […]<\/p>\n","protected":false},"author":1,"featured_media":3706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[1285,50,3001,1284,261,175,830,2395],"class_list":["post-3705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-alltime","tag-bitcoin","tag-celebrates","tag-hash","tag-high","tag-network","tag-rate","tag-turns"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvODg2OGRkZTAtZDA0Mi00NGNjLTkxYmUtMDBmYTcwYmNjMmNmLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3705"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3705\/revisions"}],"predecessor-version":[{"id":3707,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3705\/revisions\/3707"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/3706"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3705"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}