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Is Bitcoin Hash Rate Too High?

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Miners provide a last line of defense for securing the Bitcoin network against brute-force attacks from malicious actors who might accumulate a majority of SHA-256 hash rate. The more hashing power is spent discovering new blocks for the longest Bitcoin chain, the more secure the funds on the trillion-dollar network will be. Despite a significantly depressed bitcoin price, however, which is currently sitting more than 50% below its latest all-time high, the network’s hash rate continues growing and has set new record highs multiple times this year. In fact, hash rate might be the only bitcoin chart still going up and to the right in the current market phase.



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