Bitcoin hashrate hits record high of 69 million TH/s, 10 times the number of grains of sand on Earth

According to data from Blockchain.com, the Bitcoin network’s hashrate has recently climbed to an all-time high (ATH) of 69 million TH/s – a number that is 10 times the number of grains of sand on Earth.

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More hashes per second than grains of sand on Earth

According to the blockchain website, the Bitcoin network has a hash rate of 69 million terahashes per second (69 million TH/s). Hash rate refers to the computing power used to secure the network.

The Bitcoin hashrate has been growing since surpassing 60 million TH/s in mid-June 2019. This growth is consistent with the trend established in 2019, as Bitcoin’s technical fundamentals have been rising since the drop experienced in late 2018.

The Bitcoin network hashrate is now more than double what it was in December 2018, having grown by about 900% over the past two years. Mining difficulty has also reached an all-time high, further strengthening the network’s robust security.

To illustrate the sheer magnitude of the Bitcoin network’s current computing power, consider the following: According to a research team at the University of Hawaii, there are approximately 7.5 quadrillion grains of sand on Earth.

As Kevin Rooke said in a tweet on Sunday (June 30, 2019), “The Bitcoin network is processing 10x more hashes per second than there are grains of sand on Earth.”

“If 69 quintillion is a hard number to comprehend, consider this… there are approximately 7 quintillion grains of sand on Earth. Every second, the Bitcoin network performs nearly 10 times as many hashes as there are grains of sand on Earth.”

Even more impressive is that approximately three-quarters of Bitcoin’s hash rate is powered by renewable energy — a fact often conveniently overlooked by Bitcoin mining critics.

Bitcoin Defense Department

Bitcoin doesn’t need men with guns to protect it — an argument famously made by economics professor Saifedean Ammous back in 2018. Morgan Creek Digital’s Anthony Pompliano made a similar point during Monday’s episode of Off the Chain.

Bitcoin’s Department of Defense (DoD) does not have a nuclear arsenal, instead, the top-ranked cryptocurrency has inherent network stability. According to Pompliano:

Bitcoin’s Department of Defense has no bullets, no bombs, no ships, no fighter jets, and no soldiers. It has thousands of volunteers and millions of computers around the world working together to ensure there is no single point of failure.

Given the optimism that exists in the market, it’s not hard to imagine more hashrate being added to the network. It’s rainy season in China’s Sichuan province right now, so more miners may flock there to take advantage of cheaper hydroelectric power.

Bitcoin has 10 times the hash rate of a grain of sand on Earth, and who’s to say that number won’t be more than the estimated 1,000 quintillion stars in the universe?