Bitcoin Hashrate Hits New All-Time High — Can Price Reclaim $100,000?
Bitcoin hashrate reached a new all-time high of over 1,000 exahashes per second (EH/s) on January 3, 2025, reflecting a recovery from the end of 2024. The hashrate, which measures the computing power securing the Bitcoin network, indicates increased miner participation and enhanced security. Currently, the hashrate is around 783.02 EH/s, nearly double the 510 EH/s recorded in January 2024. Historical data shows a positive correlation between hashrate increases and Bitcoin price rallies, with Bitcoin priced at approximately $98,264, up nearly 5% over the past week. The United States accounted for over 40% of the global Bitcoin hashrate by the end of 2024, with Foundry USA and MARA Pool contributing significantly. Despite this growth, Chinese mining pools still controlled 55% of the global hashrate as of September 2024.
