The Bitcoin (BTC) network has recorded a new hash rate all-time high of 248.11M TH/s as of Feb. 12, 2022, further securing the decentralized ecosystem through a growing network of global BTC miners. 

The hash rate correlates to the computing power required by a miner’s computer equipment to confirm a transaction. The recent spike in BTC’s network hash rate ensures further security against attacks by deterring bad actors from confirming fraudulent transactions.

Bitcoin hash rate over the past year. Source: YCharts

As evidenced by the above screenshot, the network hash rate jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — in just one day. Moreover, the Bitcoin network’s hash rate levels rose 54.33% over the past year. 

Bitcoin hash rate over the past one month. Source: YCharts

Previously, China’s blanket ban on crypto mining and trading led to concerns about the security of the Bitcoin network, as the Asian country contributed to 34.25% of the total Bitcoin mining hash rate until June 2021. 

With miners eventually finding refuge in other crypto-friendly countries, the Bitcoin network saw a sharp recovery — eventually surpassing the previous all-time highs.

Bitcoin mining by country. Source: ccaf.io

Currently, the miners residing in the United States contribute the highest in terms of the global hash rate of the Bitcoin network, 35.4%. 

Related: Bitcoin miners believe global hash rate to grow ‘aggressively’

A recent Cointelegraph analysis from January concluded that the industry players believe that the BTC hash rate will continue to grow. Despite the…


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