Since the start of the year, the bitcoin hash rate has boomed by 155%. Hash rate charts indicate the amount of computing power mining bitcoin, which makes us ask: why are so many mining it now?
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Bitcoin has passed a significant point in its short history. The cryptocurrency has recently seen its 16.8 millionth coin mined which means 80% of all the coins are now in circulation.
An event in the bitcoin world, dubbed the 'halving', will see the amount miners earn per block decrease from 25 BTC to 12.5 BTC. The 'halving' is believed to be one of the reasons for the price spike.
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