According to a report by CoinJournal, the hashrate of the bitcoin network has soared in recent months, climbing by more than 100% in just 4 months.
In June of 2018, the hashrate was more than 40 EH/s, as compared with the 2017 peak of about 13 EH/s.
What does the increase in hashrate signify, and is there a possible connection between this growth and the decline in bitcoin price over the same period?
Hashrate Growth
Put simply, the hashrate of the bitcoin network references the amount of computing power used by the network.
For miners, a higher hashrate can be both a blessing and a curse, as hashrate growth means that mining companies must make continuous reinvestments in order to remain competitive.

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