According to the latest statistics, Bitcoin’s network hashrate is over 800 exahashes per second (EH/s) based on the 7-day simple moving average (SMA). The network’s computing power has reached a record 805 EH/s.
Bitcoin Hashrate Hits Record 805 EH/s
Over the weekend, Bitcoin (BTC) comfortably hovered above the $100,000 mark, playfully hitting a new all-time high on Sunday afternoon. In addition to these price fluctuations, Bitcoin’s network hashrate peaked at 805 EH/s on December 14, 2024. As of 2:45 PM Eastern Time on December 15th, the network is performing at 799 EH/s.
Today, the network is running fast at 799 EH/s, but let’s rewind a year. Back then, it was 293 EH/s lower, at 506 EH/s. It’s a fun comparison. Today’s best mining machines can generate about 473 terahashes per second (TH/s), which translates to just 0.000473 EH/s. Now, in theory, if all miners decided to buy just this one type of high-performance machine, it would take about 619,241 machines to increase the network’s hashrate by the 293 EH/s we’ve seen this year. Currently, the network is running at 799 EH/s, or just under 800 EH/s, which translates to 800 trillion hashes per second. At such a high hash rate, block intervals pass faster than the expected 10 minutes, averaging 9 minutes and 34 seconds. This speed means that the difficulty adjustment scheduled to take place within just a few hours today is expected to increase by 4.4%. This increase will make it 4.4% harder for miners to find gold in blocks.
With Bitcoin’s hash rate continuing to rise and BTC dancing at record prices, we are witnessing a network that is not only surviving, but thriving through growth. This increase shows that the mining community is buzzing with activity and quickly adapting to new challenges. What about the future? More innovation, more competition and an increasingly tightly networked digital economy. But can this upward trend be sustained or is it destined for a sharp correction in the near future? Only time will tell.
