G a a h2022-10-22

Bitcoin's Hashrate continues to break historical records

Hashrate as measured by a 30d EMA is at its all time high, this means that more mining machines are being turned on to confirm new blocks in the network. The more computing power, the higher the security on the network, and the difficulty is also at an all-time high. Therefore being more difficult to perform a 51% attack within the Bitcoin network, as the most important part of a blockchain is its security. While the price is testing new lows the Hashrate is testing new highs. Network fundamentals remain strong and miners continue to invest heavily in the infrastructure of the Bitcoin ecosystem during this bear market. However, the profitability of the miners decreases as the difficulty is higher because of the increased Hashrate. Would this lead to new capitulation events by the miners?