NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days

Bitcoin Hashrate Hits New All-Time High — Can Price Reclaim $100,000?

Opeyemi Sule
Opeyemi Sule
9 months ago
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

According to recent blockchain data, the Bitcoin hashrate has been on the rise as it touched a new all-time high on Friday, January 3rd, 2025. This new peak comes as the premier cryptocurrency continues to recover after a disappointing end to the year 2024.

Positive Correlation Between Bitcoin Price And Hashrate

The “hashrate” is a metric that measures the total amount of computing power that secures a Proof-of-Work blockchain network (Bitcoin, in this case). It is used to determine the mining difficulty of a blockchain and gauge network participation.

When the hashrate metric increases, it indicates that Bitcoin miners are devoting more computational resources to the network, with the blockchain becoming more secure as a result. Meanwhile, a lower hashrate suggests reduced network participation and less security.

Related Reading

Ton price

Toncoin Price Recovery Continues — Is The Dwindling Staking TVL Ratio Bullish?

9 months ago

On Friday, the Bitcoin hashrate briefly hit a new record high of over 1,000 exahashes per second (EH/s). According to the latest on-chain data, the hashrate has retraced back to around 783.02 EH/s, as of this writing.

Data from CoinWarz shows that this new all-time high for Bitcoin hashrate is nearly double its value about a year ago. As of January 2024, the BTC network hashrate stood at around 510 EH/s.

From a historical standpoint, there is a positive correlation between the network hashrate and Bitcoin price. For instance, substantial increases in the hashrate during the 2017 and 2021 bull cycles overlapped significant price rallies.

Moreover, a higher hashrate signals strong network fundamentals, which can improve the sentiment surrounding the premier cryptocurrency.  While this may not lead to immediate surges, it could contribute to the price growth over time.

As of this writing, the price of Bitcoin stands at around $98,264, reflecting an almost 2% increase in the past 24 hours. This optimistic single-day action adds to the somewhat positive weekly performance, with the flagship cryptocurrency up by nearly 5% in the past seven days.

US Mining Pools Now Account For 40% Of Global Hashrate: Report

A new report has revealed that the United States accounted for more than 40% of Bitcoin‘s global hashrate at the end of 2024. Specifically, two US-based mining pools, Foundry USA and MARA Pool, were responsible for over 38.5% of all blocks mined.

Related Reading

XRP Price

XRP Price Prediction To $4.9: How The 1-Day 50 MA Will Drive The Next Wave

9 months ago

A TheMinerMag report showed that Foundry USA improved its hashrate from 157 EH/s at the beginning of 2024 to approximately 280 EH/s by December to become the single largest mining pool by hashrate. Meanwhile, MARA Pool accounts for about 4.35% of global hash power. 

Bitcoin
Source: TheMinerMag

While this represents significant growth for the United States in the BTC mining industry, China-based mining pools still control the majority of the total hashrate. Despite a ban on crypto in the country, Chinese mining pools controlled 55% of the global hashrate, as of September 2024.

Bitcoin
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
Tweet123Share196ShareSend
Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin ETFs

Spot Bitcoin ETFs Show Major Divergence In Inflows — What’s Happening?

The spot Bitcoin ETFs (exchange-traded funds) have been in solid form over the past two weeks, laying a foundation for...

Opeyemi Sule 10 hours ago
Bitcoin

Here’s Why The Bitcoin, Ethereum, And Dogecoin Prices Are Crashing

The Bitcoin, Ethereum, and Dogecoin prices are crashing today, sparking bearish sentiment in the crypto market. This followed the U.S....

Scott Matherson 12 hours ago
Bitcoin

A 5% Bitcoin Drop In October? History Shows That’s Rare

According to economist Timothy Peterson, Bitcoin’s recent slide could be a short-lived wobble if October’s history repeats itself. He pointed...

Christian Encila 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin’s Pullback A Healthy One? Chart Signals Move To New All-Time High

Godspower Owie 27 minutes ago
SUI

SUI Ready For $7 Price Target As Market Pressure Builds — Analyst

Semilore Faleti 6 hours ago
Bitcoin price

Bitcoin Price Drops Toward $117,000: What Lies Ahead? Three Possible Scenarios

Ronaldo Marquez 7 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク 価格予測:2026年までに5ドル回復は可能か?徹底分析

    パイネットワーク...

    8 hours ago
  • ドージコイン 今後の価格予測:専門家が新たな強気目標を提示、27倍上昇の可能性も

    ドージコイン...

    8 hours ago
  • イーサリアム 今後:アップグレードと機関投資家の需要が価格を5,000ドル突破へ導く

    イーサリアム...

    8 hours ago
  • シバコイン 今後:データが示す“見た目以上の強さ”とは?今が投資の好機か

    シバコイン...

    9 hours ago
  • 仮想通貨おすすめ:ETF承認を目前に控えた10月、グロックが選ぶ注目の投資銘柄

    ...

    9 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.