Bitcoin hash rate jumps to ATH as Jack Dorsey confirms Block's mining system

Bitcoin (BTC) hash rate has returned to all-time highs despite losing a key hash rate contributor. Meanwhile, amid lackluster price action, Block CEO Jack Dorsey ຢືນຢັນ the creation of an open Bitcoin mining system.

The BTC space continues to surprise and bewilder critics and fanatics alike. Kazakhstan, the network’s second most important BTC mining country, experienced an internet blackout last week due to civil unrest. However, the hash rate faltered no more than 13.4% before regathering to reach all-time highs.

As shown in the below data from Glassnode, with the price checking into the $42,000 range yesterday, the mean hash rate hit 215 million terahash per second.

Bitcoin miners continue to show resilience and as Fidelity Digital Assets observed, the network is even “more widely distributed around the world.”

Cointelegraph previously reported that Block would develop open-source Bitcoin mining systems in 2022 due to job postings on Linkedin. Yesterday, Jack Dorsey confirmed the hunch, ການກັບມາອີກຄັ້ງ comments made by Thomas Templeton, a general manager at Block.

In the Twitter thread, Templeton addressed issues relating to the availability, reliability, performance, and products pertaining to BTC mining. In sum, Block’s goals for BTC mining are the following:

“ພວກເຮົາຕ້ອງການທີ່ຈະເຮັດໃຫ້ການຂຸດຄົ້ນບໍ່ແຮ່ມີປະສິດທິພາບຫຼາຍຂຶ້ນໃນທຸກດ້ານ, ຈາກການຊື້, ການຕັ້ງຄ່າ, ການບໍາລຸງຮັກສາ, ການຂຸດຄົ້ນບໍ່ແຮ່. ພວກເຮົາມີຄວາມສົນໃຈເພາະວ່າການຂຸດຄົ້ນບໍ່ແຮ່ໄປໄກກວ່າການສ້າງ bitcoin ໃຫມ່. ພວກເຮົາເຫັນວ່າມັນເປັນຄວາມຕ້ອງການໃນໄລຍະຍາວສຳລັບອະນາຄົດທີ່ຖືກແບ່ງຂັ້ນສູນກາງຢ່າງເຕັມທີ່ ແລະບໍ່ໄດ້ຮັບອະນຸຍາດ.”

ທີ່ກ່ຽວຂ້ອງ: Jack Dorsey ປະກາດກອງທຶນປ້ອງກັນທາງກົດຫມາຍ Bitcoin

Building a BTC mining system “out in the open” and alongside the community is no mean feat. Econoalchemist, an established home BTC miner and BTC magazine contributor, tweeted that developing products in open source would “build trust where no reputation exists currently and also might shift consumer expectations in that direction.”

Ultimately, Block’s mining solutions may pave the way for more DIY miners to enter the space.

It seems the sky’s the limit for the hash rate. Well, at least until the next 2016 blocks when the network difficulty resets.