Is Bitcoin Hash Rate Too High?

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Min­ers pro­vide a last line of defense for secur­ing the Bit­coin net­work against brute-force attacks from mali­cious actors who might accu­mu­late a major­i­ty of SHA-256 hash rate. The more hash­ing pow­er is spent dis­cov­er­ing new blocks for the longest Bit­coin chain, the more secure the funds on the tril­lion-dol­lar net­work will be. Despite a sig­nif­i­cant­ly depressed bit­coin price, how­ev­er, which is cur­rent­ly sit­ting more than 50% below its lat­est all-time high, the network’s hash rate con­tin­ues grow­ing and has set new record highs mul­ti­ple times this year. In fact, hash rate might be the only bit­coin chart still going up and to the right in the cur­rent mar­ket phase. 



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