Bitcoin (BTC) has already hit a new record in 2022 as the cryptocurrency'due south network hash charge per unit once once again topped previous all-time highs.

Information from multiple monitoring resource including Blockchain and Coin Dance confirmed hash charge per unit was higher than e'er on the start twenty-four hours of the new year.

Estimates point to an all-time high for BTC network

A measure of the calculating ability devoted to validating the Bitcoin blockchain, hash rate spent much of 2022 in a continuous growth cycle. Merely for a cursory period in Q3 did the upwardly trend level off.

Strong hash charge per unit suggests Bitcoin is a more highly-seasoned proffer for miners — more mining power translates into better network security and robustness against potential attacks.

According to Blockchain, the metric hit 119 quintillion hashes per second (h/s) on Jan. 1.

Bitcoin 1-year network hash rate

Bitcoin 1-year network hash charge per unit. Source: Blockchain


Coin Dance'southward figures are different, with 143 quintillion h/south recorded for the aforementioned date.

Bitcoin 14-month network hash rate

Bitcoin 14-month network hash rate. Source: Coin Dance

Markets await "cost follows hash charge per unit"

The reason for the variation lies in the fact that the hash rate is all but incommunicable to measure in existent terms. Resource can only analyze recent network activeness and from that create an estimate of presumed hash rate.

In September, what appeared to be an overnight xl% drib in hash rate was later attributed to the way information technology is calculated.

The recent records have further come independent of Bitcoin price action. BTC/USD fluctuated between $3,100 and $13,800 final yr, but the hash rate tendency endured.

Commentators, including Keiser Report host Max Keiser, accept too claimed that hash rate highs will ultimately produce new Bitcoin price highs.

At press time, the pair traded at simply higher up $vii,100, down around three% over the three days covering the hash rate record.

Bitcoin has recently set other technical records, which Cointelegraph reported last week.