#BitcoinHashRateSurge The seven day moving average of bitcoin's (BTC) hashrate has hit an all-time high of 703 exahashes per second (EH/s), the first time the network's hashrate has cracked 700 EH/s, according to Glassnode data.

Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, such as bitcoin. Bitcoin's hashrate has grown almost 13% since the halving event in April, when the total number of bitcoin produced per day was cut in half to 450 BTC