The 7-day average mining hash rate for Bitcoin hit a new all-time high, surpassing 667 EH/s, indicating a vote of confidence in its long-term viability.
Donald Trump announced plans to boost the Bitcoin mining industry at the Bitcoin 2024 conference, coinciding with the record hash rate.
Firms like Whatsminer and MicroBT introduced powerful machines to capitalize on the hash rate boom, with innovations like AI integration to navigate challenges.
Miners' revenue has increased with Bitcoin's rising price, reducing selling pressure and stabilizing network activity, as seen in decreased outflows compared to earlier this year.
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