Bitcoin's Hashrate Hits Record Highs ₿

What We’re Showing

This graphic shows bitcoin's hashrate since 2016, based on data from Blockchain.com.

Key Takeaways

• The computing power required to process bitcoin transactions—known as the hashrate—has grown by more than sixfold since November 2019.
• As bitcoin's price rises, it often incentivizes miners to join the network since it becomes more profitable, and in turn, this pushes up the hashrate.
• Since bitcoin's fourth halving event in April 2024, the hashrate has hit all-time highs, while bitcoin's price has increased by roughly 4% as of November 4, 2024.