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<p class="is-style-lead">Bitcoin mining activity is increasing globally as market participants pump fresh capital into their businesses.</p> 
<p>While the leading United States-based bitcoin (<a href="https://crypto.news/bitcoin-price/">BTC</a>) miners, such as Marathon Digital Holdings, recorded a significant <a href="https://crypto.news/marathon-mined-21-less-bitcoin-in-june-partly-due-to-bad-weather-in-texas/">decrease</a> in their BTC output during June due to unfavorable weather conditions, that narrative changed for the better in July.</p> 
<p>Per data released by Hashrate Index, a resource for bitcoin mining data and more, bitcoin’s 7-day and 3-day hashrate reached new all-time highs over the weekend, indicating that miners in the US and other jurisdictions are now firing on all cylinders.</p> 
<p>Specifically, bitcoin’s 7-day average hashrate rose to as high as 401 EH/s on July 8, while the 3-day hashrate surged to 444 EH/s, representing an <a href="https://hashrateindex.com/blog/hashrate-index-round-up-july-9-2023/" target="_blank" rel="noreferrer noopener">18% increase</a>.</p> 
<p> You might also like: <a href=" https://crypto.news/bitcoin-mining-stock-prices-outperformed-btc-in-h1-2023/"> Bitcoin mining stock prices outperformed BTC in H1 2023 </a> </p> 
<p>Unlike proof-of-stake (<a href="https://crypto.news/proof-of-work-vs-proof-of-stake-which-has-the-more-profitable-projections/">PoS</a>) based blockchains like <a href="https://crypto.news/price/ethereum/" data-type="URL" data-id="https://crypto.news/price/ethereum/">Ethereum</a>, where the network reaches consensus via staking activity, the bitcoin distributed ledger and other proof-of-work (PoW) chains rely on miners for network security.</p> 
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   <p lang="en" dir="ltr">It's fascinating to see the growth in Bitcoin's network hashrate, reaching an average of 401 EH/s in 7 days and 445 EH/s in 3 days according to Hashrate Index. Such increases in computational power demonstrate the continuous interest and investment in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> mining. <a href="https://t.co/KDsI80Qf4Y" target="_blank">https://t.co/KDsI80Qf4Y</a></p>— Voice of Crypto (@VoiceofCrypto2) <a href="https://twitter.com/VoiceofCrypto2/status/1678288591871672321?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 10, 2023</a>
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<p>Bitcoin mining hashrate is a critical security metric. High hashing/computing power in the network ensures greater security and more resilience to attack.</p> 
<p>At the time of writing, <a href="https://ycharts.com/indicators/bitcoin_network_hash_rate#" target="_blank" rel="noopener">data </a>available on YCharts shows that the global bitcoin network hash rate stands at 425.48 million terahashes per second (TH/s).&nbsp;</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="How Bitcoin miners get rewarded for solving a block." width="1020" height="574" src="https://www.youtube.com/embed/OHtgpgT6KEE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>Regarding the geographic distribution of bitcoin mining activities, the United States still occupies the frontline, accounting for 35.4% of the global bitcoin hash rate, followed by Kazakhstan (18.1%) and Russia (11.23%), according to the World Population Review.</p> 
<p>As recently <a href="https://crypto.news/uae-now-accounts-for-3-7-of-the-global-bitcoin-mining-activity/">reported</a> by crypto.news, the UAE is making conscious efforts to become a formidable force in the bitcoin mining space. The region now accounts for nearly 4% of the global bitcoin mining activity.</p> 
<p> Read more: <a href=" https://crypto.news/el-salvador-and-tether-work-together-to-create-volcano-energy-bitcoin-mining-center/"> El Salvador and Tether work together to create Volcano energy bitcoin mining center </a> </p>

Bitcoin hashrate reaches new all-time high

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