PANews October 21 news, according to Coindesk, based on Glassnode data, the seven-day moving average of Bitcoin's hash rate has reached a historic high of 703 EH/s (currently at 725.20 EH/s, peaking at 791.62 EH/s). This is the first time the network's hash rate has surpassed 700 EH/s. Since the halving event in April, Bitcoin's hash rate has increased by nearly 13%.

Data from Bitcoin mining analyst Sebastian Ski shows that in September, 12 leading publicly listed mining companies contributed 28.9% of the total hash rate, equivalent to over 200 EH/s. Their contribution to the hash rate has been steadily increasing month by month, having jumped nearly 10% since October 2022. Ski suggested that 'publicly listed mining companies are capturing market share from other miners around the world.' Ski also mentioned that the companies with the largest hash rate growth over the past 12 months are: CleanSpark (CLSK), MARA Holdings (MARA), Riot Platforms (RIOT), and IREN. This also aligns with the monthly production growth of leading Bitcoin mining companies in September. Weaker miners will have to exit the network, while the mining companies with the lowest energy costs or the strongest balance sheets will continue to increase their share of the network.