The Bitcoin network hash rate reached a new all-time high of over 740 EH/s on September 3rd, despite Bitcoin trading below $60,000, showcasing the disconnect between market pricing and network fundamentals.
Leading mining companies like Whatsminer and MicroBT are launching advanced mining equipment in response to the increase in hash rate, showcasing confidence in Bitcoin's long-term viability.
Riot Platforms' acquisition of Block Mining for $92.5 million illustrates the banking on robust growth in hash rate, enabling miners to broaden their presence in a competitive landscape.
Despite the hash rate not directly impacting Bitcoin's price, it strengthens the network security, with milestones often preceding bullish trends and key halving events.
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