Just as the Bitcoin (BTC), miners released the 19th millionth BTC in circulation Friday, the BTC network’s mining difficulty reached an all-time high at 28.587 trillion.
According to Blockchain.com data, Bitcoin’s network difficulty is related to the computational power needed to mine BTC blocks. This requires an estimated hash rate (EH/s) of 201.84 exahash/second (EH/s).
Bitcoin network difficulties. Source: Blockchain.com
The spike in network difficulty supported Bitcoin’s stronghold. It reached a record high of 248.11 EH/s February 13.
The Bitcoin hash rate in the last three years. Source: Blockchain.com
A higher hashrate ensures resilience to double-spending attacks. This is when BTC transactions are reversed over the blockchain. It contributes at least 51% to the Bitcoin hashrate.
On Mar. On Mar. 30. Before that, the resilient Bitcoin network had grown steadily since July 2021.
The Bitcoin network will continue to grow as it supports the community, with just 2 million BTC remaining to be mined as rewards and an influx from Bitcoin miners around the globe.
Related: Terra buys $139M Bitcoin; wallet reaches 31,000 BTC
On March. 30 – A Terra wallet belonging LFG (Luna Foundation Guard), amassed $139 Million in BTC. This brings its total coffers to 31,000 BTC or 1.47 billion.
Just getting started pic.twitter.com/dJrkf6YfrR
— TerraLunaaaa (@TerraLunaaaa) March 30, 2022
Terra Bitcoin wallet has amassed billions of BTC. Source: BitInfoCharts
Cointelegraph reported that the wallet started amassing huge amounts of BTC in Jan 2021. It has never sold one satoshi since then.
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