BlockBeats News, April 17th, according to CloverPool data, Bitcoin's total network hash rate once exceeded 1000 EH/s, reaching a record high, and is now reported at 893 EH/s; the current network's seven-day moving average hash rate is 888.85 EH/s.
While the growth of Bitcoin's hash rate signifies an improvement in network security, it also means that the cost of mining 1 Bitcoin is increasing. Combined with the block reward reduction expected in 2024, the growth in hash rate may lead to consolidation among small mining companies.
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