According bitcoin Pro MagazineThe 7-day average mining hash rate for bitcoin hit a new all-time high, surpassing 667 exahashes per second (EH/s) on July 26 during the bitcoin Conference 2024This surpasses the previous record of 657 EH/s set on May 26.
This new all-time high comes as Donald Trump announced their plans during the conference to support and boost the bitcoin mining industry.
Major mining companies like Whatsminer and MicroBT are releasing powerful new machines to take advantage of the hash rate boom. Whatsminer introduced four new mining rigs and an upcoming solar mining container system. MicroBT introduced its M6XS+ miners, which can handle between 190 and 450 terahash.
Riot Platforms also acquired Block Mining for $92.5 million to expand its hash rate and market reach. Miners are exploring ai integration and acquisition opportunities to overcome current identity challenges.
Increased miner revenues due to the rising bitcoin price have cooled selling pressure and stabilized network activity. Miner outflows remained below $10,000 per day in July, compared to over $20,000 in March, when btc first hit $70,000.
In general, bitcoin-hashrate-chart/”>The rise of bitcoin hashrate It reflects a vote of confidence in its long-term viability. With significant mining innovations and favorable policies driving revenue, miners are aggressively expanding the infrastructure to process transactions and secure the bitcoin network.
