On October 21, the hashrate of the Bitcoin network reached a record high of 769.8 exahashes per second (EH/s), demonstrating the strong security and computing power of the network.
This upward trend is a result of advancements in mining technology, such as specialized ASICs, which have made mining more efficient and powerful.
While this is beneficial for the security of the network, it also presents challenges for miners, as the increasing difficulty and cost of mining could impact profitability for smaller operations.
This is further compounded by the Bitcoin halving, which reduced block rewards and potentially squeezed profit margins.
