#BitcoinHashRateSurge
The increase in Bitcoin's hash rate indicates the level of computing power being used to mine and secure the network. When the hash rate spikes, it often reflects greater confidence from miners in the long-term prospects of Bitcoin, despite high energy costs. This growth can be attributed to upgrades in mining technology, rising Bitcoin prices, or large miners entering the market. A higher hash rate helps make the network more secure but can also increase mining difficulty, making it harder for individual miners to turn a profit.