In the field of digital currency, Bitcoin has always been the focus of attention. Recent data shows that the computing power of the entire Bitcoin mining network has reached 140EH, setting a record high. This number has triggered heated discussions about the future development of Bitcoin and also highlighted the huge potential and challenges in the digital currency field. This article will delve into the reasons behind the surge in Bitcoin mining computing power, analyze its impact on the digital currency market, and look forward to the future development trend of digital currencies.

As the first widely accepted and used cryptocurrency, Bitcoin's mining computing power has always been one of the focuses of market attention. With the fluctuation of Bitcoin prices and the increase in market demand, the improvement of mining computing power has become an important means to ensure network security and transaction confirmation speed. Recently, the computing power of the entire Bitcoin mining network exceeded 140EH. The surge in this number not only reflects the popularity of the digital currency market, but also demonstrates the huge influence of Bitcoin in the financial field.

In the context of increasingly fierce competition in the digital currency market, the computing power of the entire Bitcoin mining network has soared to 140EH, which means that the digital currency industry is facing a new round of development opportunities and challenges. As Bitcoin prices fluctuate and the market environment changes, miners need to continuously improve their computing power to cope with fierce competition and complex market conditions. Only by continuous innovation and progress can we remain invincible in the digital currency market.

Overall, the computing power of the entire Bitcoin mining network has reached 140EH, marking that the digital currency market has entered a new stage of development. With the continuous innovation of technology and the expansion of market demand, the digital currency industry will face more opportunities and challenges. As investors and miners, we must always pay attention to market dynamics, seize opportunities, respond to challenges, jointly promote the development of digital currency, and lead the future of financial technology. May we witness the glorious moment of digital currency together and share the prosperity of the digital economy!

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The hash rate (computing power) on the Bitcoin blockchain network surpassed its all-time high on Monday, March 2, as the overall hash rate reached 136 exahash (EH/
s). The record-breaking achievement comes despite Bitcoin’s price briefly falling below the $9,000 area over the past week. In four years, Bitcoin’s hash rate has increased by more than 13,500%, and it doesn’t look like it’s slowing down anytime soon.

Bitcoin’s network computing power reached between 136-145EH on Monday

Since the invention of Bitcoin's innovative payments network, hash rate (computing power) has been an indicator of security and the overall health of the network. Essentially, a hash is the output of the hash function that corresponds to the Bitcoin software. When Bitcoin miners search for blocks, they use the computing power they have to increase their chances of acquiring newly minted Bitcoins. The sum of network computing power, meaning the processing power of all blockchain supercomputing devices among all participating miners on the Bitcoin network, is basically a measure of the number of times a hash function is calculated to find a block. At the end of January 2016, the Bitcoin network reached 1
exahash(EH/s). Since then, Bitcoin’s hash rate has increased exponentially, reaching 136EH/second by March 2, 2020
s. Blockchain.com and Fork.lol charts show Bitcoin’s network-wide hashrate average to be between 136 and 145EH/s.

According to the Blockchain.com chart on March 2, 2020, Bitcoin’s network computing power trend

Investment in the Bitcoin mining industry has been very strong over the past few years, with many new Bitcoin mining data centers being added around the world. For example, by Peter Thiel
Layer1, a Bitcoin mining company backed by Thiel, recently began to deploy the mining industry in West Texas. The company from Peter Thiel, Digital Currency
It has raised more than $50 million in funding from investors including Group and Shasta Ventures.
Layer1 aims to expand operations to 200MW this year, and there are many other Bitcoin mining projects in Texas.
Last year, Bitmain revealed it would build a 300MW facility in Rockdale, Texas, and operate it from 25MW.

In the second week of February 2020, Riot Blockchain revealed that it had purchased more than 1,000 Antminer machines for its Oklahoma data center. Riot
Blockchain’s mining farm also plans to deploy 300MW of mining facilities. The company said that these new mining machines will be started immediately. In February this year, Xtra Bitcoin announced the establishment of a 2.5 MW facility with plans to increase it to 10 MW.
Digihost claims to have a 70.000 square foot facility in Buffalo, New York, housing 12,895 Bitcoin mining rigs (17.5
MW computing power). New Bitcoin mining operations are emerging in Central Asia, the United States, Canada and many other nation-states, all of which are driving the increase in the computing power of the entire Bitcoin network.

Additionally, other SHA256 networks have also seen increases in hash rate, with Bitcoin Cash (BCH) jumping from 1EH/s to 3.5-5EH/s.
s, a 400% increase since December 2018. Bitcoin SV (BSV) network computing power is currently about 1.3EH /
s, has grown 130% in 2020 to approximately 2.5-3EH/
s. These three networks make up the overall SHA256 hash rate, one of the largest computing networks ever created by mankind. Satoshi
Nakamoto launched Bitcoin’s blockchain network in 2009, which has now led to huge advances in exascale computing. But people often wonder what Exahash is and all the other interesting units of hashrate used by Bitcoin, such as Kullhash, Megahash, Gigaahash, Terahash, Petahash and even Zetahash.

Continue to move towards the Exahash era

A thousand hashes (1 kH/s) is 1000 hashes per second, a megahash (MH/s) is approximately one million hashes per second, and a gigabyte (GH/s)
s) is one billion hashes per second, one megahertz (TH / s) ) is equal to 1 trillion hashes per second, and 1 petahash (PH / s) is 40 million hashes per second.
When we start measuring hash rate in Exahashes per second (EH/s), it's roughly 100 million hashes per second. Currently, Bitcoin’s network hash rate is approximately less than zetahash (ZH/
s) quarter of the epoch, that’s a whopping six hundred billion hashes per second, or 500exahash. The Bitcoin network operates at 140EH/second
The number of s is 20 times the number of grains of sand scattered on the earth, which is approximately estimated at 750 million grains.

The record of 136-145EH/s is yet another milestone, and whenever a network’s hashrate increases, it becomes more difficult to cheat the system.
For example, a few minutes ago, a certain mining pool found block 619845. If a malicious miner wanted to change block 619800, the miner would have to spend an hour changing 45 computationally expensive (proof of work) block.
Currently, an attack costs $775.936. It would cost a malicious miner approximately $20 million in 24 hours while competing with all the honest miners processing the next block.
Every time an honest Bitcoin miner finds another block, it puts the attacker significantly behind, essentially making attacks on Bitcoin miners very costly.

The picture on the left comes from data from Fork.lol, which shows that the computing power of the entire network climbed to 145 exahash/s (EH/
s). The chart on the upper right is from Bitinfocharts.com, and the chart on the lower right is Bitcoin’s hash rate average.

Many speculators believe that increased hash rates mean miners wholeheartedly believe in the future of SHA256 networks like Bitcoin.
Miners invest a lot of money to verify network transactions in order to obtain 12.5 Bitcoins and all fees associated with block transactions.
Within two months, all three SHA256 networks will see the Bitcoin network’s block rewards cut in half, and Bitcoin miners will only receive 6.25 BTC plus fees.

The increase in combined computing power shows that some entities have the upper hand in the game, especially when estimates say that the price per Bitcoin will need to exceed $12,000 after Bitcoin miners halve the price.
So far, the BTC network has witnessed the natural growth of miners, increasing the hash rate, and no major incidents have occurred following the capitulation of miners over the past decade.
Following the Bitcoin halving, all eyes will be on future authoritative hashrate growth, as this metric has been a reliable indicator of the network’s overall security and growth.

The computing power of the entire Bitcoin mining network has reached a record high of 140EH, which is inseparable from the promotion of technological innovation and market demand. With the continuous development and improvement of blockchain technology, the improvement of Bitcoin mining computing power has become a symbol of the competitiveness of the digital currency market. At the same time, the recognition of digital currency continues to increase globally, attracting more investors and miners to participate in Bitcoin mining, and promoting the rapid growth of the computing power of the entire network.