Bitcoin Network Hash Rate has surpassed 1 second (Zh/s) per second for the first time in Bitcoin’s 16-year history, according to several blockchain data sources.
According to data from Mempool.space, Bitcoin’s hashrate crossed the milestone on April 5th at a peak of 1.025 Zh/s, but BTC frame data said it had hit 1.02 ZH/SA a day ago.
According to Coinwarz data, the Bitcoin hashrate rose to 1.1 Zh/s at block height of 890,915 on April 4, but the same data shows that Bitcoin first passed 1 Zh/s on March 24.
Bitcoin’s hashrate fell below 0.95 Zh/s on April 7th after reaching 1 Zh/s. Source: BTC frame
Bitcoin hashrate tracker mismatch
The difference is due to the various approaches used to calculate hashrate, such as when block time and difficulty adjustments are measured. Bitcoin nodes and minor pools are used to pull out data.
Bitcoin’s Saipanpunk Jameson Rop has previously pointed out that, in contrast to the five, estimates of the Bitcoin hashrate in one “trailing block” could lead to a difference of more than 0.04 Zh/s.
“Looking at raw hashrate metrics can be deceived due to random variations in block time,” added Mitchell Askew, head analyst at Blockware Solutions.
Notching 1 Zh/s is the result of a large network
Despite the contradiction, the feat highlights the enormous amount of computing power and the increased decentralization of the Bitcoin network, making it safer than ever and significantly reducing the chances of a 51% attack.
The reported increase in Bitcoin Network to 1 Zh/s (equivalent to 1,000 exahash per second) indicates a 1,000-fold increase since late January 2016, when Bitcoin first hit 1 Eh/s in late January 2016.
According to Coinwarz, Litecoin, the second largest proof of work cryptographic network, currently boasts a hash rate of 2.49 peta hash per second, making it roughly 40,000 times more computationally powerful than Bitcoin.
Source: Pierre Rochard
Askew said the significant increase in hashrates coincided with more commercial Bitcoin mining companies that have competed to solve the Bitcoin block in recent years.
“The miners are doubled: they’re expanding their sites and plugging in with more efficient machines,” Askew said, adding that less efficient miners can be quickly washed away, unless Bitcoin (BTC) prices rise again in the coming months.
According to the Hashrate Index, Mara Holdings is the largest Bitcoin miner with over 50 EH/s calculation power.
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At least 24 publicly available Bitcoin companies have Bitcoin mining installed, according to CompanysMarketcap.com.
Among the other large miners who donate hashrates are Riot Platforms, Core Scientific, CleanSpark, Hut 8 Mining, and Terawulf.
Bitcoin hashrates is rising as BTC eases the fear of recession
The new all-time high of Bitcoin hashrate came midway through a sharp market slump. Bitcoin (BTC) fell nearly 10% to $78,750 over the past four days, while US stocks saw an estimated loss of $6.6 trillion on April 3rd and 4th.
Much of the fall comes from President Donald Trump’s tariff plans, with many industry analysts saying it’s causing a recession horror.
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