Bitcoin mining hash rate will triple in 2022

Dave suggested that with all the new capacity promised by major Bitcoin (BTC) miners, the hash rate of the Bitcoin network, or the computing power used to mine new coins, may triple in the next year. Mining CEO of infrastructure provider Compute North.

In his own words, Perrill talked about the hash rate in a comment shared with Cryptonews.com, "It is expected to double next year, as major industry players have promised that hundreds of megawatts of capacity will come online in 2022. "

He added that even if it does not double, according to the commitments of major players in the field, "we will still see more than 3GW of electricity coming online in every corner of the United States."

Perrill’s comments follow the news earlier this month that the hash rate of the Bitcoin network has been fully recovered from the shutdown of China’s mining operations. The Bitcoin mining industry used to be highly concentrated in China and is now thriving in the United States. The country is now considered the center of global Bitcoin mining.

As of December 15th, the mining power of Bitcoin was 175E, which was 190E from the historical high set on December 9th.