An annual review of the Bitcoin mining industry reflects how large-scale miners had to tackle all-time high hash rates and difficulty adjustments.
2023 proved to be a testing year for the Bitcoin mining ecosystem, with record-high hash rates and mining difficulty putting pressure on miners to sell Bitcoin (BTC) to cover operational costs.
An annual review of the Bitcoin mining sector published by Compass Mining highlights the significant growth in the global hash rate in 2023. The network’s hash rate started the year at 266 exahashes per second (EH/s) and would more than double to 542 EH/s to close out 2023, marking a 103% annual increase.
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