Bitcoin hashrate hits all-time high, next Bitcoin halving projected for Q4 2023

09/12 07:26

Bitcoin’s hash rate has hit a new all-time high of 281.79 million TH/s.. The next BTC halving is now projected to take place as early as Q4 2023. The date for the next bitcoin halving has been pulled forward as the hash rate has hit a new all-time high. The bitcoin hash rate hit a raw value of 281.79 million on Sept. 11, which indicates that more people are jumping on board and is a good sign for the health of the network. The halving date was expected sometime in May of 2024, but at current levels, it is slated for the last quarter of 2023. The next halving will reduce the bitcoin block rewards to 3.125 bitcoins. The whole halving process will continue until the year 2140 when it is estimated that all 21 million bitcoins will be mined. This makes the network a deflationary one, and proponents argue that this will push the value of the asset up over time.
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