As per reports, the hashrate of the Bitcoin network has seen a huge high proceeding speed increase over the last weeks. On Monday, the speed of the overall hashrate hit a very high frequency of 171.2EH/s (exahash per second). On the other hand, there has been a huge hike in the mining difficulty as well. The record shows an all-time high (ATH), counting at 20.61 trillion (T). Indeed, as per the records over the last 12 years, this is the highest recorded count.
Recorded hashrate increase
To understand how the BTC network protocol is working and if it is healthily growing, one thing experts consider is its hashrate. In the first hours of 14 January 2021, the processing speed of the Bitcoin hashrate was recorded at 165.38 EH/s approximately. Also, the collective hash power of the BTC miners was reaching huge highs during this period.
Previously, the network hashrate rose to a huge number, 178.6 EH/s, on 30 December 2020. Twelve days later, on 11 January 2021, the count for hashrate reached the first peak of 2021. To be specific, the rate high was recorded as 171.2 EH/s.
Mining difficulty issue
Simultaneously, the mining difficulty or DAA (Difficulty Adjustment Algorithm) of the Bitcoin network has crossed its original highest ATH. On Monday, the hashrate picked up speed, and Bitcoin price dipped very low. As a result, the mining difficulty the protocol saw was recorded at 20.61T.
As per an estimation, the high hashrate at the beginning of January’s second week signifies that the DAA count would rise. Approximately a +9.98% increase is possible. Plus, the experts analyze that the network difficulty ATH may grow to 22.66T within the next two weeks.
The possible cause behind this, as experts say, would be the average output of the available blocks per day. So, within the next 9 days, give or take, the mining difficulty rate would reach those above estimated high.