Bitcoin Goes Beast Mode—Mining Power Tops 1 Zetahash In First-Ever Surge
Bitcoin's network hashrate reached a record 1 Zetahash per second (ZH/s) between April 4-5, 2023, marking a significant milestone in its history. Different blockchain tracking services reported varying peak hashrate figures, with mempool.space noting a peak of 1.025 ZH/s on April 5, while Coinwarz reported 1.1 ZH/s on April 4. The hashrate reflects the computational power securing the Bitcoin network through mining. Since January 2016, the hashrate has increased 1,000-fold from 1 Exahash per second (EH/s). Bitcoin now processes approximately 40,000 times more calculations per second than Litecoin. Increased competition among commercial mining firms has driven this surge, with at least 24 publicly listed companies involved in Bitcoin mining. Major mining pools, Foundry USA Pool and AntPool, control significant portions of the network's hashrate. This achievement occurred amid a market decline, with Bitcoin's price dropping 8% to $77,210.
