Image
Image
27-29 May, 2025
Image 27-29 May, 2025

Las Vegas, NV

Skip to content
Subscribe
  • Home
  • Services
  • Video
  • Events
Subscribe

Reading

Bitcoin Sees New All-Time High in Daily Transactions and Hashrate
News Mining

Bitcoin Sees New All-Time High in Daily Transactions and Hashrate

There has been a significant increase in the number of bitcoin miners joining the network, pushing bitcoin hash rate to 439 EH/s and daily confirmed transactions to over 682,000
Alex Lari
By: Alex Lari
May 03, 2023
3 min read
Bitcoin Sees New All-Time High in Daily Transactions and Hashrate

Recently, there has been a significant increase in the number of bitcoin miners joining the network. This surge has led to a remarkable boost in the Bitcoin hash rate, which now stands at 439 exahashes per second (EH/s). Furthermore, the daily volume of transactions recorded on the bitcoin blockchain has surpassed 682,000, with more than 300,000 Ordinals registered.

The Bitcoin blockchain’s computational power, as gauged by the hash rate, has surged to an unprecedented level, reflecting heightened assurance in the network’s security. The hash rate serves as a vital metric for the network’s well-being, with a higher hash rate indicating greater miner participation, thereby boosting the network’s resilience against potential attackers.

denverbitcoin, a prominent bitcoin miner affiliated with Upstream Data, cautioned that the recent surge in hash rate might not endure. In a tweet, he emphasized the significance of monitoring the 1,500-block to 5,000-block average time to gain a genuine understanding of the actual hash rate.

The surge in Bitcoin’s hash rate is thought to be temporary and may have been partly driven by the renewed popularity of Bitcoin Ordinals. These unique and nonfungible tokens are built on the Bitcoin network and represent distinct positions on the blockchain. They have gained popularity among collectors, investors, and enthusiasts as a novel way to engage with the Bitcoin ecosystem.

On May 1, the daily count of inscriptions reached over 350,000, causing the total number of Bitcoin Ordinals to exceed 3 million. As each inscription represents a transaction, this surge in Ordinals has also led to a significant increase in the number of Bitcoin transactions.

Bitcoin Ordinals represents an additional function of the network, beyond serving as a store of value or medium of exchange, according to some enthusiasts. However, many individuals, like Adam Back, see these inscriptions as pointless.

Stay on top of Bitcoin
news, get weekly updates
in your inbox.

Recommended News

Mining
Mining
Sangha Renewables to Launch 20MW Solar Mining Farm in Texas
May 23, 2025
3 min read
By: Alex Lari
Mining
Mining
Bitcoin Mining Now Uses Over 50% Green Energy: Cambridge Study
Apr 30, 2025
3 min read
By: Alex Lari
Mining
Mining
Tether to Assign Its Bitcoin Mining Hash Power to OCEAN Pool
Apr 16, 2025
3 min read
By: Alex Lari
All News
Accelerating Adoption
News
  • Adoption
  • Legal
  • Markets
  • Mining
  • Opinion
  • Press Release
  • Learn
  • Sponsored
Company
  • About Us
  • Brand Assets
  • Newsletter
  • Services
  • Site Map
  • Terms & Privacy
Connect
  • Contact Us
  • Contribute
  • Services
  • Media Partner
  • RSS
  • Videos
Social Media
  • Twitter
  • YouTube
  • Telegram
  • LinkedIn
  • Instagram
  • Nostr
  • TikTok
  • Flipboard

© A Bitcoin-Focused Company | 256 Media, 2024

Language Switcher
Search
  • News
    • Adoption
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
    • Learn
    • Interviews
  • Services
  • Video
  • Events
  • News
    • Adoption
    • Interviews
    • Learn
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
  • About Us
  • Contact
  • Newsletter
Search

Popular Articles

Meta Shareholders Strongly Reject Bitcoin Treasury Proposal
June 1, 2025 · 3 min
BFF25 Event Recap: Unique Fusion of Bitcoin, Cinema & Art
May 31, 2025 · 3 min
Cantor Fitzgerald Launches $2B Bitcoin-Backed Lending Program
May 31, 2025 · 3 min
JD Vance in Las Vegas: “100 Million Americans will Hold Bitcoin”
May 30, 2025 · 4 min
Trump Media Will Raise $2.5 Billion to Build Bitcoin Treasury
May 29, 2025 · 3 min
Blockstream Unveils “Future of Finance Runs on Bitcoin” Vision
May 28, 2025 · 5 min

Bitcoin Only
Newsletter

Get weekly news roundups direct to your inbox!