Bitcoin (BTC) has witnessed another increase in its computing power after its network hash rate grew 25% in a week.
As of September 3rd 2019, data from monitoring resource Blockchain puts Bitcoin’s hash rate at 87 quintillion hashes per second (h/s).
The figure passed 80 quintillion h/s for the first time in early August, and has set new highs on an almost daily basis in recent months.
Hash rate refers to the total computing power involved in processing Bitcoin transactions. The greater the metric, the more power available making the Bitcoin network more secured.
Also a rising hash rate means that forward-looking miners are investing vast amounts of resources to expand their operations. Miners have gone back to Bitcoin again in 2019 after last year’s hash rate slump.
Now, commentators believe further gains for hash rate and price are on the horizon.
Blockstream CSO, Samson Mow, on Monday tweeted. “The race to mine the last 3 million Bitcoin will keep hashrate growing rapidly for the next few years,”