Bitcoin’s Hashrate Reaches 618 EH/s, Establishing a New 7-Day SMA Record in 2024

Bitcoin’s Hashrate Reaches 618 EH/s, Establishing a New 7-Day SMA Record in 2024

Bitcoin’s computational power has reached an all-time high, soaring to 618 exahash per second (EH/s) as indicated by the seven-day simple moving average. Currently, 56 different entities are contributing a minimum of 916.26 megahash per second (MH/s) to the network, with the mining pool Foundry USA leading the way, providing 204.41 EH/s.

Bitcoin Inches Closer to Zettahash Era with Latest Hashrate Milestone

In 2024, BTC is hitting new milestones with unprecedented price surges, the highest levels of difficulty, the largest block size, and now, over the past weekend, its computational power reached an unprecedented peak on March 10, 2024, achieving 618 EH/s. Just six days prior, on March 4, the hashrate was holding steady at 564 EH/s, according to the seven-day simple moving average (7DSMA). This indicates a significant increase of 9.57% in hashrate from March 4.

The three-day simple moving average (3DSMA) climbed to a high of 661 EH/s. The 7DSMA is just 382 EH/s away from reaching a singular zettahash per second (ZH/s), while the 3DSMA is a mere 339 EH/s shy of achieving the 1 ZH/s milestone. The 7DSMA translates to a staggering 618 quintillion hashes per second (H/s). To put this into perspective, it is in the range of the total number of sand grains on Earth, the entirety of data in the digital world, all insects on the planet, and the quintillions of microorganisms in the human gut.

Over the past three days, Foundry recorded a hashrate of 204.41 EH/s, which accounts for 33.62% of the total. The second-largest mining pool, Antpool, commands 122.65 EH/s or 20.17% of the total, while Viabtc contributes 97.59 EH/s to the BTC network, representing 16.05% of the total hashrate. Following these top three mining pool giants, F2pool, Binance Pool, Luxor, Mara Pool,, SBI Crypto, and Braiins Pool complete the top ten list.

The upward trend in hashrate, from global participation to the verge of achieving zettahash capabilities, symbolizes a significant shift in the digital realm. These milestones demonstrate an evolving ecosystem where Bitcoin’s foundational security becomes synonymous with unrivaled growth and technological advancements, setting a precedent for the future of blockchain and cryptocurrency. However, with less than 6,000 blocks until the fourth BTC halving, bitcoin miners might encounter challenges ahead, particularly if prices begin to decline.

What are your thoughts on Bitcoin’s hashrate surpassing 618 EH/s? Feel free to share your opinions in the comments section below.