The genesis block, the first block that was mined on the Bitcoin Network, was extracted on January 3, 2009, by Satoshi Nakamoto, the anonymous creator of Bitcoin.
Now, 13 years later, the BTC network does not seem to be slowing down and has reached a new record hashrate of 207.53 million tera hashes per second (TH/s).
We should take into account that Bitcoin’s hashrate collapsed temporarily coinciding with China’s crackdown on crypto mining, which forced miners operating in the country to shut down their devices and/or move to other countries to continue their activities. As a result of China’s ban on crypto mining, the Bitcoin hashrate fell to 58.46 million TH/s.
However, the Bitcoin hashrate has now recovered, and on January 1, 2022, the Bitcoin network saw a new all-time high of 207.53 million TH/s.
In addition, Willy Woo has unveiled that the BTC reserves of private corporations increased last year.