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What Is Hash Rate, and Why Is It Skyrocketing?

·3 min read
What Is Hash Rate, and Why Is It Skyrocketing?

Bitcoin's (CRYPTO: BTC) value in U.S. dollars has reached all-time highs in recent weeks. As the price climbs, so does the Bitcoin network's hash rate -- or the computing power being used to verify transactions and mine new Bitcoin. For a proof-of-work cryptocurrency like Bitcoin, hashrate is used to measure the total computational power being used to process transactions and mine new coins.