As bitcoin finds it hard to scale past the 12000 USD price hurdle, its hash power hits an all-time high. BTC's weekly hash rate attained a new hash rate on August 15, according to Blockachain.com.
The current hash rate BTC is 129.075 TH/s. This is quite shocking considering that the hash rate of BTC was reasonably stagnant for the last 14days.
The hash rate also referred to as Hash Power, is the measuring unit of the Bitcoin network's processing power. Therefore, high average hash power implies that miners have a higher probability of making profits. There is a direct relationship between price and hash rate.
Bitcoin price has increased beyond $12k twice this month before dropping back to the mid $11k range, maintaining the $11,700-$11,900 range in the past few days.
Source: Cointelegraph
