Bitcoin Hashrate Hits Record Level

The computational power of Bitcoin has recently reached an unprecedented high, as reported by Glassnode.

The network’s seven-day moving average hashrate has surpassed the 700 EH/s mark, the first time it has crossed this threshold.

This growth can be attributed to the halving event in April which has resulted in a 13% increase in the hashrate.

Additionally, publicly-listed Bitcoin miners have contributed significantly to this growth, making up almost 29% of the total hashrate.

Their share of the market has seen a significant rise of nearly 10% since October last year.