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Cryptopolitan 2025-09-29 14:10:41

Bitcoin’s network hashrate surges to new high of 1.2 zetahashes per second

Bitcoin’s network hashrate surged to a new high of 1.2 zetahashes per second and stabilized around 1.039 ZH/s, highlighting the industrial nature of the current mining. The milestone comes on the heels of a resurgence in BTC strength, whose price has regained lost ground to reach a high of $112,000 on Monday. Reaching a zetahash is years of massive investment in infrastructure. These operators have installed huge plants, negotiated power deals as large as a town, and launched chains of specialized mining rigs. Growth in hashrate translates to narrower margins. Bitcoin adjusts mining difficulty after every 2,016 blocks, keeping block time constant but squeezing the margins of miners. 1 ZH/s means, per second, the computers that safeguard the Bitcoin network are doing one sextillion (1,000,000,000,000,000,000,000) hashes per second, which is an absurdly large figure. Unprofitable and expensive business operations are under pressure, and only companies with modern hardware and affordable electricity can survive. The increase in hashrate was also driven by the investment of large mining operations such as Marathon Digital and Riot Platforms, which invested in powerful ASICs. Bitcoin first reached 1 EH/s in 2016. Nine years later, it has increased that capacity by a thousand-fold. The record hashrate is a sign of resilience over the 2022 downturn. On-chain metrics point to a shifting Bitcoin market According to CryptoQuant data, the 72-hour funding rate has already become negative, indicating a decrease in selling pressure. Such changes historically tend to furnish a short squeeze, which enables the momentum to turn in favor of the buyers. Meanwhile, the Spent Output Profit Ratio (SOPR) has approached 1.5. The short-term investors are taking bigger losses, though long-term holders remain stable. This trend has already been observed before the major rebounds in 2024 and indicates the same conditions as existed with the former bottom formations. The surge of Bitcoin above $112,000 has reversed much of the fall of last week. According to CoinGecko, the growth of 2.5% in 24 hours was facilitated by robust buying over the weekend. The recovery also led to a wider resurgence in altcoins, initiating $354 million in liquidations and taking the overall crypto market value to nearly $4 trillion. Market analysts are still comparing the movements of Bitcoin to gold. Milk Road Macro observed that BTC/USD and gold/USD had rising wedge patterns. In January, gold went higher, and in March, Bitcoin followed suit with the “rise, pause, late-spike” pattern. Should the correlation continue, Bitcoin may escape in October and November. Gold has increased by 10%, yet Bitcoin has, in the past, amplified actions by up to 10 times. That puts a potential upside in the range of 50% to 100%, giving targets of between $160,000 and $220,000. Meanwhile, traders pointed out that the critical level is at $112,000. Analysts state that the breakout had cleared late shorts, and the next resistance was at $114,000. A position above $112,000 would help instill faith and position the market to gain more in October. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

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