While some panicked, other industry insiders pointed out that the Bitcoin network has become stronger than ever. The growth of the Bitcoin network has become apparent as the hash rate figures for BTC continue to make new highs this month. For example, on January 22, the BTC network recorded an all-time high of 26.643 billion with an average hash rate of 190.71 exahashes per second (EH/s).
The hash rate will continue to grow, which is a good thing Samir (CS:SAM) Tabar, chief strategy officer at Bit Digital, a publicly traded Bitcoin miner, told Cointelegraph that the BTC hash rate refers to the amount of computing power that is contributed to the network at a given time.
Tabar explained that when it comes to Bitcoin mining, a higher hash rate equals a good hash rate. “The more computing power that goes into maintaining a network, the more secure it is and the more transactions it can handle,” Tabar said.
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