Bitcoin's (EXANTE: Bitcoin) hashrate has set a new historical record at 129 TH/s, according to Blockchain.com.
The previous record was set on July 29, 2020, with 126.941 TH/s.
The amount of computing power has grown up by almost 45% just two and a half months after the May halving, which reduced mining reward from 12.5 BTC to 6.25 BTC per block.
The next halving is scheduled to happen approximately on May 9, 2024, at 03:53:03 UTC.
The rise of mining activity comes after a Nasdaq-listed cryptocurrency mining company, Marathon Patent Group Inc., announced it had signed a long term purchase contract with mining manufacturer Bitmain for the purchase of 10,500 Antminer S-19 Pro ASIC miners.
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According to a survey conducted by asset manager Fidelity and crypto research firm BitOoda, China still controls approximately 50% of bitcoin mining power, a figure that indicates the Asian giant does not dominate the mining industry as much as many people thought.
According to the authors of the survey, the sources used cannot be disclosed because they accepted to take part in the study only if their identity remains anonymous.
Therefore, it is not possible to verify their accuracy, which is the reason why the results are open to interpretation.
At press time, BTC is trading at $11,812.
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