BTC hashrate updated a record value

The Bitcoin network continues to demonstrate incredible stability and growth, which can be seen in the record hashrate increase to 627 EH/s. This was reported by Julio Moreno, an expert at CryptoQuant. This indicator reflects the enormous computing power aimed at maintaining and protecting the blockchain. This, in turn, indicates the high involvement of miners, despite the volatility of the market.

An important aspect is that this hashrate growth is taking place against the backdrop of a recovery from an 8.5% drop. This underscores the rapid return of confidence of industry participants.

Record hashrate levels have a direct impact on the security and decentralization of the network. Increasing the complexity of mining, makes the network more secure against hacker attacks, particularly 51% attacks, which is considered key to the long-term stability of BTC. In terms of economics, an increase in hash rate while the value of bitcoin remains unchanged means increased competition among miners, which could lead to lower profit margins.

Experts assume that the hashrate will continue to grow in the short term, especially if the bitcoin market stabilizes or begins to recover. This, in turn, will lead to a further increase in the complexity of mining, which will require market participants to invest even more in equipment and technology.

However, such rapid hashrate growth may also indicate a high concentration of computing power in the hands of large players, which potentially carries risks of centralization. This phenomenon requires special attention from the community to avoid situations where control over the network may end up in the hands of a limited number of participants.