Hashrate Index: The growth of Bitcoin hashrate may indicate that mining companies are activating new mining machines to compete

ChainCatcher news, the Hashrate Index report indicates that Bitcoin's seven-day hashrate reached a historical high of 659 EH/s, an increase of 13.6% from the post-halving low of 580 EH/s.

Additionally, according to data from Bitinfocharts, the average network hashrate reached 732 EH/s over the past weekend, setting a new record.

The Hashrate Index explains that the increase in hashrate may indicate that publicly listed mining companies are launching their ASIC orders as planned, which means more powerful hardware is being activated, and competition will intensify as more hashrate comes online.

The report notes that the current average block time is 9 minutes and 26 seconds. Top publicly listed mining companies have booked 76.6 EH/s of equipment for 2024. Furthermore, 12.9 EH/s of this equipment is expected to be delivered in the first quarter, and nearly 36 EH/s of equipment should be delivered in the second quarter. The Hashrate Index adds, "Regardless of where it comes from, the current surge in hashrate will bring a significant difficulty adjustment for miners in about 8 days."