Bitcoin hashrate is the total calculation power of all mining devices that are connected to the network ⚒.
While Bitcoin establishes new price highs, mining returns continue to grow. Previously a mined block gave miner 6.25 BTC at $20,000 per each BTC with total return at $125,000. Today, BTC/USD is $62,000, which gives miners $387,500 in total.
THe number of those who want to mine Bitcoin continues to grow as the return has grown three times.
More miners = total calculation power growth = hashrate growth = mining difficulty growth.
Less miners = lower calculation power = lower hashrate = lower mining difficulty.
Hashrate calculation units:
👉🏻 1 MH/s = 1,000 kH/s
👉🏻 1 GH/s = 1,000 MH/s
👉🏻 1 TH/s = 1,000 GH/s
The picture shows the dynamics of the total hashrate (TH/s) in the BTC network. The total hash speed increased from May 2020 to April 2021 by 51.2% 📈
