Bitcoin Network’s Hashrate Reaches Historic High – 400 Exahash per Second

The Bitcoin network recently achieved a milestone, as its hashrate has hit an all-time high of 400 exahash per second (EH/s). This equates to 0.4 zettahash or four hundred quintillion hashes per second. Sam Wouters, a research analyst at River Financial, claims that at the current growth rate, Bitcoin could reach the zettahash era “by the end of 2025.”

Reasons Behind the Increase in Bitcoin Hashrate: Insights from River Financial Analyst

The Bitcoin network’s difficulty has also increased for the third consecutive time in the last six weeks, now standing at an all-time high of around 46.84 trillion after a 7.56% increase on March 23, 2023. This was the same day that the hashrate peaked at 400 exahash per second. In the near future, it is likely that Bitcoin’s hashrate will reach a single zettahash, equivalent to 1,000 EH/s or one sextillion hashes per second.

River Financial analyst Sam Wouters has received many inquiries regarding the sharp rise in hashrate. He believes that it is unlikely that the extra hashrate is due to nation-states or secret mining operations. Wouters notes that the increase could be due to unused ASIC miners being put back into use due to the rise in the price of BTC, as well as the use of hydro-powered ASIC units that add tremendous hashrate and are estimated to have the highest average profitability at present.

In Wouters’ December 2022 study, it was estimated that there are approximately 2.5 to 5 million ASIC miners in operation today. He claimed that without any efficiency improvements to miners, it would take around 11.2 million to support a hashrate of 1 zettahash. Factors that could contribute to the current increase in hashrate include “unused inventory going online,” “new models becoming available,” “more facilities becoming operational,” and “clever entrepreneurs finding low-cost sources before regulators intervene.”

What do you think will happen to the Bitcoin network when it reaches the zettahash era? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.