Bitcoin’s hash-rate has returned to all-time highs despite the loss of a major hash-rate contributor. Meanwhile, amid slow price action, Block chief Jack Dorsey confirmed the creation of an open bitcoin mining platform.
The BTC square continues to surprise and confuse both critics and fanatics. Kazakhstan, the second largest BTC mining country on the network, was hit by an internet breach last week due to civil unrest. However, the hash rate fell no more than 13.4% before being regrouped to reach all-time highs.
As shown in the data below from Glassnode, when the price hit the $ 42,000 range on Thursday, the average hash rate was 215 million TAH.
Bitcoin miners continue to show resilience, and as Fidelity Digital Assets notes, the network is “more distributed worldwide.”
Cointelegraph previously reported that Block will develop open source bitcoin mining systems in 2022 based on LinkedIn job postings. On Thursday, Dorsey confirmed her intuition by retweeting comments from Thomas Templeton, Block’s general manager.
In a Twitter thread, Templeton addressed issues related to availability, reliability, performance and products related to BTC mining. In short, the dimensions of the block in relation to BTC mining are as follows:
«We want to make mining more distributed and efficient in everything from purchasing to establishment, maintenance and mining. We care because mining goes beyond making new bitcoins. We see this as a long-term need for a fully decentralized, license-free future. ”
RELATED: Jack Dorsey Announces Bitcoin Legal Defense Fund
Creating an outdoor BTC mining system with the community is not an easy task. Econoalchemist, a BTC home miner and contributor to BTC Magazine, tweeted that developing open source products “will build trust where there is currently no reputation and may also change consumer expectations in that direction.”
Ultimately, Block mining solutions could pave the way for more DIY miners to enter the market.
Bitcoin’s maximum hash rate seems to be maximum. Well, at least until the next block in 2016, when network issues are reset.