The computing energy of the Bitcoin community reached its all-time excessive earlier this week. Knowledge from Blockchain.com confirmed the whole hash fee reached as excessive as 320 EH/s between Feb. 20 and Feb. 26, posting a ten% enhance because the starting of the month.
The 320 EH/s represents a 44% enhance from the December low of 222 EH/s.
Such a notable enhance in hash fee can largely be attributed to an increase in uptime for miners positioned 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 12 months introduced on far more favorable climate circumstances that stabilized the grid and enabled miners within the nation to realize 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 fee additionally correlates with a rise in Bitcoin’s worth, which noticed a stable rebound in mid-February regardless of persisting macro uncertainty.
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