The hash rate on the Bitcoin network has risen to an all-time high, this time above 155 million terahash per second (TH/s).

At the same time, the Bitcoin blockchain went through another modification that increased the difficulty levels to a record level as well.

Bitcoin hash rate hits new highs:

The hash rate is the unit of measure for the processing power of the Bitcoin network.

The more miners use their computing devices to mine bitcoin, the higher the hash rate, making the system more secure and robust.

With over 60% of Bitcoin miners residing in China, their behavior has the most significant impact on the operation.

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The hash rate dropped to as low as 100 million terahash per second when Chinese miners began to migrate after the end of the rainy season in Sichuan Province.

However, the trend quickly reversed as they settled in other parts of the Asian country.

In less than two months, the hash rate recovered to previous levels and reached an all-time high in early January.

The hash rate quickly advanced to over 156 million TH/s.

According For Cryptowatch, the recovery in the hash rate after the rainy season in 2020/2021 was faster compared to the same period in 2019/2020.

This means that despite the Bitcoin mining reward halving in 2020, miners have not abandoned the network, quite the contrary, due to the high price of Bitcoin that covered the shortage of reward.

Mining difficulty rises above 21 terahash level:

When creating the Bitcoin network, Satoshi Nakamoto introduced a self-tuning mechanism that could make it more difficult or easier for miners depending on their active number.

As such, the network goes through an auto-tuning process every 2016 blocks (roughly every two weeks).

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The general rule suggests that having more miners involved will make mining more difficult.

Alternatively, when there is an external shift, as happened during the period of Chinese miners on the move as mentioned above, the system will make mining easier.

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With the hash rate increasing, it is clear that miners are actively using their hardware to work on the network, which means that the latest adjustment (it happened on February 6th) was necessary to make it more difficult.

Data from Blockchain.com confirms a 3% increase in mining difficulty, with difficulty hitting a new all-time high for the scale.

Just for comparison, this measure dropped to 16.8 terahash in early November when Chinese miners were migrating.

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