As we finished 2021, most analysts, including us, expected the hashrate to reach 300 EH/s in 2022. The hashrate grew quickly at the beginning of the year but has stagnated in the last two months.

Currently sitting at 200 EH/s, the hashrate must grow by 5% a month to reach 300 EH/s by the end of 2022, making this target still well within a possible range.

As we finished 2021, most analysts, including us, expected the hashrate to reach 300 EH/s in 2022. The hashrate grew quickly at the beginning of the year but has stagnated in the last two months.

Currently sitting at 200 EH/s, the hashrate must grow by 5% a month to reach 300 EH/s by the end of 2022, making this target still well within the range.

The slower than usual hashrate may be caused by the current supply-chain issues, making it harder for miners to build new facilities and get machines delivered.

Although publicly listed miners control a growing share of Bitcoin’s hashrate, most have been slower in adding new hashrate than planned and have continually missed their hashrate targets.

The difficulty is sitting at an all-time high after a 4% difficulty adjustment last week, causing the block production rate to decrease to 5.93 blocks per hour.

Transaction fees continue to increase, growing 34% over the past seven days.

Increased transaction fees were caused by higher network activity, as we see a 10% growth in the daily transaction volume, making the average transaction value increase by 7%.