#BitcoinHashRateSurge

The growth of Bitcoin hashrate to 1000 EH/s primarily indicates increased competition among miners, which leads to a decrease in profitability for those using less powerful equipment. In addition, the increase in complexity requires significant investments in new equipment and increases electricity costs.

If we connect this with the graph of the decrease in Bitcoin reserves on exchanges, we can see that at the moment of the intersection of reserves and price, the value of BTC began to rise, and coins began to be actively withdrawn for long-term storage. As is known, a decrease in supply on the market with stable or growing demand contributes to price growth, which is beneficial for miners, especially given the increasing complexity of mining.

Thus, everything will be fine with BTC: miners continue to make a profit, and Bitcoin, like good wine, only gets more expensive over time.