#BitcoinHashRateSurge
Bitcoin Mining Power Hits Record Highđ
Could the Price Smash $100,000 Soon?
Bitcoinâs mining power, called the "hashrate," has hit an all-time high, signaling potential strength for the cryptocurrency market. This increase comes as Bitcoinâs price rebounds after a weak end to 2024, giving investors hope for further growth.
What is Hashrate, and Why Does It Matter?
The hashrate measures how much computing power is being used to secure the Bitcoin network. A higher hashrate means the network is stronger and more secure, as more miners are competing to validate transactions.
On January 3, 2025, Bitcoin's hashrate hit over 1,000 exahashes per second (EH/s), a new record, before settling at 783.02 EH/s.
Compared to January 2024, when the hashrate was about 510 EH/s, this is nearly doubleâshowing massive growth over the past year.
Historically, Bitcoin's price often rises when the hashrate increases, as seen during bull runs in 2017 and 2021.
Currently, Bitcoin is priced around $98,264âa 2% rise in 24 hours and nearly 5% higher than a week ago. With the $100,000 milestone within reach, excitement is building.
The US Leads Bitcoin Mining Growth
A report shows that the United States now contributes over 40% of the worldâs Bitcoin mining power. Major mining pools like Foundry USA and MARA Pool dominate the US mining scene, with Foundry USA nearly doubling its hashrate in 2024 to 280 EH/s, making it the largest mining pool globally.
However, Chinese mining pools still hold the top spot, controlling 55% of the global hashrate despite strict crypto regulations in China.
