TechFlow news, October 21 — According to Cointelegraph, Bitcoin network hash rate hit a record high of 769.8 EH/s, highlighting the growing security of the world's first blockchain network.
Data from BitInfoCharts shows that Bitcoin's hash rate has been steadily rising since 2021. This growth is closely tied to technological advancements in mining hardware, such as ASICs. While the increasing hash rate enhances Bitcoin's network security, it also drives up mining costs.
With the 2024 Bitcoin halving approaching, block rewards will be reduced. Combined with the rising hash rate, this factor could trigger a wave of consolidation among smaller mining operations.
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