On-chain data shows the 7-day average of the Bitcoin Hashrate has just set a new record, despite network difficulty being at an all-time high.

Bitcoin Hashrate Has Observed A Sharp Surge Recently

The “ Hashrate ” refers to an indicator that keeps track of the total amount of computing power that the miners have currently connected to the Bitcoin blockchain. The metric is traditionally measured in terms of hashes per second (H/s), but today a much more massive exahashes per second (TH/s) is used instead.

When the value of this metric goes up, it means new miners are joining the network and/or old ones are expanding their farms. Such a trend implies the chain is appearing an attractive venture to these validators.

On the other hand, the indicator registering a decline suggests some of

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