#BitcoinHashRateSurge What is Bitcoin Hashrate?

Bitcoin hashrate is a calculated numerical value that specifies an estimate of how many hashes are being generated by Bitcoin miners trying to solve the current Bitcoin block or any given block.

Bitcoin hashrate is represented in Hashes per Second or H/s.

The global Bitcoin network hashrate is a calculated value and is measured in hashes per second (H/s). The calculation uses the current mining difficulty and the average Bitcoin block time between mined blocks versus the defined block time as variables to determine the global Bitcoin network hashrate.

As the Bitcoin network hashrate goes up - the BTC hashrate numbers get so large that abbreviations must be used.

The abbreviations are SI derived units representing the number of hashes performed in a one second time frame.