Today marks 13 years since the creator of (), Satoshi Nakamoto, mined the genesis block or block 0 of the Bitcoin network, and for the first time mined a reward of 50 BTC on Monday 2009. In 2022, the network of BTC shows no signs of slowing down, hitting a new all-time hash rate of 207.53 million tera hashes per second (TH / s).
Bitcoin’s hash rate, which correlates to the strength of the network based on the number of active miners, experienced a temporary drop after China banned citizens and businesses from mining and trading cryptocurrencies. As a direct result of China’s blanket ban on cryptocurrencies and the sudden shortage of miners, Bitcoin’s hash rate fell to 58.46 million TH / s.
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BTC hash rate in June 2021. Source: YCharts As seen in the graph above, Bitcoin’s hash rate rebounded as Chinese miners started migrating to friendly jurisdictions. On January 1, 2022, the Bitcoin network recorded a new all-time high of 207.53 million TH / s, regaining network security by increasing the difficulty of mining.
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