Bitcoin hashrate is on fire after El Salvador started geothermal volcano mining, almost back to all time high hashrate. Hashrate and price usually go hand in hand. We could be in for some fireworks soon

The latest one day average hashrate is 170 EH/s. Both 7 day average and 14 day average are above 140 EH/s for the first time since China ban.

The current one day average hashrate is equal to the 7 day average hashrate from April when the price was 65k. The current live hashrate online at this time is 177 EH/s. This is only 20 EH/s from ATH of 198 EH/s.

The best part about this is all the hashrate that went offline in China just 3 months ago has now been almost fully replaced by hashrate using renewables in many other parts of the world like Canada, USA, Australia, Iceland, Middle East and Latin America. Even Iran lifted its mining ban this week so we can expect more hashrate to keep coming online and from many different countries.

BTC difficulty insights

BTC hashrate chart

Everyone was expecting that the recovery would take 6 to 12 months. It took just 3 months!