Another record for the Bitcoin hashrate
Another record for the Bitcoin hashrate
Mining

Another record for the Bitcoin hashrate

By Marco Cavicchioli - 4 May 2020

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Yesterday, Glassnode reported that the Bitcoin hashrate had reached a new absolute record

The chart displayed showed a spike circled in green that corresponded to a hashrate value higher than 140 Ehash/s

Previously, in all of Bitcoin’s history, this threshold had never been exceeded. 

However, it has to be said that the hashrate calculation is actually an estimate, not an accurate measurement, and the results change depending on the period that is taken into account to make that estimate. 

In fact, other estimates, published on other websites, propose a different hashrate for yesterday. 

For example, bitinfocharts.com estimates it at just over 128 Ehash/s, while blockchain.com estimates it at 113. 

The same updated Glassnode chart now shows a daily estimate of less than 140 Ehash/s for yesterday, but it’s possible that the chart published yesterday on Twitter referred to hourly estimates and not daily ones. 

The estimate, which is calculated using the difficulty and average speed at which blocks are mined in a given period, changes depending on whether a short period is taken as reference, for example an hour, or a longer period, i.e. usually a day. 

In addition, it is indeed possible that the total hashrate may vary over the course of a day, because this is the estimate of the only hashrate committed by those who are trying to mine BTC, while miners have the freedom, for example, to move their hashrate to mine other cryptocurrencies, such as BCH or BSV. 

Therefore it is possible that yesterday’s average daily hashrate may have been around 130 Ehash/s, but it may also have had an hourly peak of 140

In fact, according to coin.dance it would have peaked even higher than 162 Ehash/s, which would make it the highest hourly peak ever. 

As a result, yesterday was most likely the highest hourly peak ever for the total hashrate committed by BTC’s miners, while the daily average was lower, but still very high. 

In fact, according to bitinfocharts.com, it would have been the third-highest daily average ever, after that of March 5th and April 14th. 

 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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