The Bitcoin network’s hashrate has reached a new peak, indicating that the security of the world’s first blockchain network is improving. On October 21, the Bitcoin network’s total computing power reached an all-time high of 769.8 exahashes per second (EH/s).

According to BitInfoCharts, the hashrate has been steadily increasing since 2021. This increase is attributed to advances in mining hardware such as application-specific integrated circuits (ASICs).

While the increasing hashrate indicates that the security of the network is improving, it also means that the cost of mining 1 Bitcoin (BTC) is increasing. The decrease in the block reward with the 2024 Bitcoin halving could lead to consolidation among smaller firms.

This is a developing story, with more to come as new information becomes available. Share your thoughts in the comments.