It started with the record news of 2022 for Bitcoin, which completed 2021 at $ 47,000. According to the data provided by Glassnode; Bitcoin Hash Rate was measured as 209 million TH/s on January 1, 2022. This data, which means a new record for Bitcoin, shows that regardless of price fluctuations, the reliability of the network and the interest in Bitcoin are still increasing.

The Bitcoin Hash Rate was 197 million TH/s at its peak price of $64,000 in April 2021. After China's pressure policy, a decline was observed to 61 million TH/s.

As the process of moving Bitcoin miners from China was completed, the hash rate increased. In these days when we enter 2022, it is seen that the Bitcoin network has regained its former strength.

Bitcoin Hash Rate

What is Hash Rate?

“Hash rate” or “Bitcoin hash rate” is a unit used to measure the processing power of the Bitcoin network. The Bitcoin network has to perform a large number of mathematical operations in order to ensure its security. The hash rate is specified in h/s (hash/second) placed next to an appropriate numerical abbreviation: For example, reaching a hash rate of 10 TH/s means that the network is capable of performing 10 trillion calculations per second.

A hash rate in blockchain and cryptocurrency transactions is defined as the number of “hashes” transactions made in a given time, or the performance rate of a Bitcoin miner.

Btc Hash Rate 2

Hash rate is a very important factor in the logistics of cryptocurrency mining and blockchain operations. Therefore, it is a parameter that is often evaluated and discussed in Bitcoin communities.

One of the most common hash rate metrics is the amount of hashes per second. In other words, it means measuring the number of SHA-256 algorithms decoded per second. SHA-256 is an algorithm that takes a block of information in a system comparable to various compression systems and converts it into a hash.

It refers to the number of attempts per second with the SHA256 algorithm to verify a transaction dump in the Bitcoin blockchain. As Bitcoin miners transact on any block, they create strings of text on which the SHA-256 algorithm works. They then measure the hash rate by counting how many times SHA-256 "hashes" a string of data.