{"id":393965,"date":"2022-01-14T12:47:29","date_gmt":"2022-01-14T09:47:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-hash-rate-jumps-to-ath-as-jack-dorsey-confirms-blocks-mining-system\/"},"modified":"2022-01-14T12:47:29","modified_gmt":"2022-01-14T09:47:29","slug":"bitcoin-hash-rate-jumps-to-ath-as-jack-dorsey-confirms-blocks-mining-system","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-hash-rate-jumps-to-ath-as-jack-dorsey-confirms-blocks-mining-system\/","title":{"rendered":"# Bitcoin hash rate jumps to ATH as Jack Dorsey confirms Block’s mining system"},"content":{"rendered":"

“# Bitcoin hash rate jumps to ATH as Jack Dorsey confirms Block’s mining system <\/strong>”<\/p>\n

Bitcoin (BTC) hash rate has returned to all-time highs despite losing a key hash rate contributor. Meanwhile, amid\u00a0lackluster price action, Block CEO Jack Dorsey confirmed<\/a> the creation of an open Bitcoin mining system.<\/p>\n

The BTC space continues to surprise and bewilder critics and fanatics alike. Kazakhstan, the network’s second most important BTC mining country,\u00a0experienced 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.<\/p>\n

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

<\/figure>\n

Bitcoin miners continue to show resilience and as Fidelity Digital Assets observed, the network is even \u201cmore widely distributed around the world.\u201d\u00a0<\/p>\n

Cointelegraph previously reported that Block would develop open-source Bitcoin mining systems in 2022\u00a0due to job postings on Linkedin. Yesterday, Jack Dorsey confirmed the hunch, retweeting<\/a> comments made by Thomas Templeton, a general<\/a> manager at Block. <\/p>\n

In the Twitter<\/a> thread, Templeton addressed issues relating to the availability, reliability, performance, and products pertaining to BTC mining. In sum, Block\u2019s goals for BTC mining are the following: <\/p>\n

\u201cWe want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining. We\u2019re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless.\u201d<\/strong><\/p><\/blockquote>\n

Related: <\/em><\/strong>Jack Dorsey announces Bitcoin Legal Defense Fund<\/em><\/strong><\/p>\n

Building a BTC mining system \u201cout in the open\u201d and alongside the community is no mean feat. Econoalchemist, an established home BTC miner and BTC magazine contributor, tweeted<\/a> that developing products in open source would \u201cbuild trust where no reputation exists currently and also might shift consumer expectations in that direction.\u201d<\/p>\n

Ultimately, Block\u2019s mining solutions may pave the way for more DIY miners to enter the space.<\/p>\n

It seems the sky’s the limit for the hash rate. Well, at least until the next 2016 blocks when the network difficulty resets. <\/p>\n