News - Bitcoin hashrate explodes

By Luc Vesters

Bitcoin hashrate explodes

April 2024 marks the fourth time in the history of Bitcoin will be the amount of BTC that will go to miners is issued per new block will halve. On a daily basis, this will reduce the amount of issuance to 450 BTC instead of the previous 900 Bitcoin.

Excluding fees, miners will earn only 3.125 BTC per block found. Reason enough to increase the hashrate and be competitive.

The hashrate is the accumulated computing power in the Bitcoin network. It increases with the number of miners competing to find new blocks. So also: the mining difficulty. This makes it, among other things, an indicator of the security of the network.

However, not all market observers see the growth of the hashrate as sustainable. Major US bank JPMorgan predicts a noticeable collapse after the halving.

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