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The Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) network hashrate reached a record high of 544 exahashes per second (EH/s). 
According to Blockchain.com, the hash rate reached a record high on Dec. 25. The network’s hash rate has doubled this year, rising 130% since January. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="735" src="https://crypto.news/app/uploads/2023/12/Screenshot-2023-12-26-at-12.15.59-1024x735.png" alt="Bitcoin hash rate hits new&nbsp;high with 544 EH/s - 22" class="wp-image-14231504">
 <figcaption class="wp-element-caption">
 Source: Blockchain.com
 </figcaption>
</figure> 
Notably, during the same period that BTC’s hash rate increased, the asset’s price almost followed suit, rising more than 150% since Jan. 1, 2023. 
At the same time, the hash price, a measure of profitability, has fallen over the past week as the <a href="https://crypto.news/ordinals-boom-sent-bitcoin-fees-to-record/">Ordinals’ craze</a> for BRC-20 has cooled. According to HashrateIndex, the hash price is currently $0.09 per terahash per second per day. Profitability fell 34% from its 2023 high of $0.136 TH/s/day on Dec. 17. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="659" src="https://crypto.news/app/uploads/2023/12/Screenshot-2023-12-26-at-12.17.15-1024x659.png" alt="Bitcoin hash rate hits new&nbsp;high with 544 EH/s - 23" class="wp-image-14231505">
 <figcaption class="wp-element-caption">
 Source: HashrateIndex
 </figcaption>
</figure> 
In addition, on Dec. 23, Bitcoin mining difficulty updated its historical record past weekend. The indicator increased by 6.98% to 72.01 T, according to BTC.com. The previous maximum <a href="https://crypto.news/bitcoin-mining-hits-record-high-difficulty/">was recorded</a> on Nov. 26, when the difficulty reached 67.96 T. On Jan. 5, 2024 the difficulty of mining the first cryptocurrency is predicted to increase by another 1.6% to 73.16 T. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="382" src="https://crypto.news/app/uploads/2023/12/Screenshot-2023-12-26-at-12.18.06-1024x382.png" alt="Bitcoin hash rate hits new&nbsp;high with 544 EH/s - 24" class="wp-image-14231506">
 <figcaption class="wp-element-caption">
 Source: BTC.com
 </figcaption>
</figure> 
The difficulty of <a href="https://crypto.news/tag/mining/">mining</a> is growing as the price of Bitcoin rises. The BTC rate at the time of writing is hovering around $42,700, according to CoinGecko. Over the past month, the asset has risen in price by 13% and reached new highs since April 2022. Several analysts also <a href="https://crypto.news/bitcoin-halving-price-surge-btc-2024/">think</a> Bitcoin will see a major parabolic uptrend after the next halving in April 2024. 
 Read more: <a href="https://crypto.news/standard-chartered-says-blackrock-etf-approval-will-drive-165-btc-price-pump-btcetf-token-surge/"> Standard Chartered says BlackRock ETF approval will drive 165% BTC price pump, BTCETF Token surge </a>

Bitcoin hash rate hits new high with 544 EH/s

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