Bitcoin hash rate has jumped to a new all-time high of 215 million TH/s on the news that Jack Dorsey’s Block is developing an open mining system.
The mining solution is expected to pave the way for more do-it-yourself miners to join the business.
Block’s General Manager, Thomas Templeton, notes that the company wants to make BTC mining efficient and distributed.
Templeton says the key concerns are reliability, availability, and performance, which the company is looking to address.
A DIY bitcoin miner, Econoalchemist, remarked that creating permissionless systems in the sector would nurture trust.
Kazakhstan experienced internet disruption recently due to political unrest, but the hash rate only dropped by 13.4%.
Bitcoin mining is showing resilience around the globe as it becomes distributed in different geographical locations.
Bitcoin rose to $42,000 on Thursday as the cryptocurrency market set on a recovery path.