#BTCMiningPeak

Bitcoin's network has reached unprecedented levels of computational power, with the seven-day moving average hash rate surpassing 700 exahashes per second (EH/s) for the first time in October 2024.

This milestone reflects a 13% increase since the April 2024 halving event, where block rewards were reduced from 6.25 BTC to 3.125 BTC.

The rising hash rate signifies enhanced security for the Bitcoin network, as higher computational power makes it more resilient against potential attacks.

However, this increase also leads to higher mining difficulty, impacting profitability for miners, especially smaller operations.

Notably, publicly listed U.S. miners now contribute approximately 29% of the total hash rate, indicating significant industry consolidation.

As of January 3, 2025, Bitcoin's price is $96,665, reflecting a 130% increase year-to-date.