Bitcoin hash rate hits ATH after 34% YOY growth

Only 5 negative days in 2023 for Bitcoin hash rate

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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Definition

This metric presents the percent change of the Bitcoin hash rate adjustment.

Quick Take

  • Over a 7DMA, Bitcoin hash rate hit 300 TH/s and continues to put in new highs.
  • During 2023, the hash rate has only had five single downward adjustments to show the consistency of the network and its current strength.
  • The hash rate has grown by 34% YOY and 50% over the past two years.
  • The China ban during the summer of 2021 was the biggest single event that affected the hash rate, which saw a drop of 35%.
Hash Rate adjustment: (Source: Glassnode)
Hash Rate adjustment: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Bitcoin BTC (24h)
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24H Volume $31.49B