Bitcoin Hash Rate Explained

Bitcoin Hash Rate: Short Explanation

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Bitcoin hash rate is the measuring unit of the processing power of the Bitcoin network.

This is the estimated number of Giga hashes per second (billions of hashes per second) that the Bitcoin network is performing.

The Bitcoin hash rate also needs to be taken into consideration to calculate the efficiency of a mining system.

The rewards miners get are proportional to the amount of power they contribute.

If you are mining in a pool with a high hash rate, your power will in comparison represent a smaller percentage, which means you will earn fewer Bitcoins.

You need to assess how the Bitcoin hash rate will evolve shortly before you spend money on mining equipment.

The hash rate is expected to go up as more Internet users become interested in bitcoin mining and the best way to compensate to invest in mining equipment with more power.

About the Author Dancake

Hey hey hey. It's Ville and welcome to my blog. I am a tech enthusiast and always looking for ways to generate new income streams. At the moment Bitcoin cloud mining is one of the most promising ones and that's why I created this website. Hope you like your stay. If you want a quick start guide about making passive income with cloud mining check out this guide.