/Bitcoin Hash Rate Jumps to All-Time High and Jack Dorsey Confirms Block Mining System
Bitcoin Hash Rate Jumps to All-Time High and Jack Dorsey Confirms Block Mining System

Bitcoin Hash Rate Jumps to All-Time High and Jack Dorsey Confirms Block Mining System

Bitcoin hash rate hits new all-time highs as Jack Dorsey tweets that Block is “officially building an open system for Bitcoin mining.”

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La tasa de hash de Bitcoin salta a su máximo histórico y Jack Dorsey confirma el sistema de minería de Block

The Bitcoin hash rate is back to its all-time highs despite losing a key hash rate contributor. Meanwhile, amid unexciting price action, Block CEO Jack Dorsey confirmed the creation of a mining system of open source Bitcoin.

The BTC space continues to surprise and baffle critics and fans alike. Kazakhstan, the second largest BTC mining country on the network, restricted internet access last week due to civil unrest. However, the hash rate did not drop more than 13.4% before reaching all-time highs again.

      The Bitcoin cycle is far from over and miners are in it for the long haul, reports Fidelity

    As shown in data from Glassnode, with a price reaching $42,000 on Thursday, the rate of average hash reached 215 million terahashes per second.

    Bitcoin miners continue to show their resilience and, as Fidelity Digital Assets observed, the network is even “more distributed around the world “.

    Cointelegraph previously reported that Block would develop open source Bitcoin mining systems in 2022, based on jobs on LinkedIn. On Thursday, Dorsey confirmed the hunch, retweeting comments from Thomas Templeton, a CEO of Block.

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      In the Twitter thread, Templeton addressed issues related to availability, reliability, performance, and products related to BTC mining. In short, Block’s goals for mining BTC are as follows:

      “We want the mining is more distributed and efficient in every way, from purchase, configuration, maintenance and mining. We are interested because mining goes far beyond the creation of new bitcoins. We see it as a long-term need for a totally decentralized and permissionless future”.

      Building a BTC mining system “for everyone” and together with the community is no mean feat. Econoalchemist, an established BTC home miner and contributor to BTC Magazine, tweeted that developing open source products “would build trust where reputation currently does not exist.” and could also change consumer expectations in that direction”.

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        Ultimately mining solutions de Block may pave the way for more DIY-type miners to enter the space.

        It seems that the sky is the limit for Bitcoin’s hash rate. Well, at least until the next 2,016 blocks, when the network difficulty resets.

        Keep reading:

        • The Bitcoin cycle is far from over and miners are in it for the long haul, Reports Fidelity

          • Jack Dorsey Announces Bitcoin Legal Defense Fund
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