Bitcoin’s network hashrate has climbed to a record 700 EH/s, underscoring the scale of computing power now securing the world’s largest cryptocurrency. The new peak marks another milestone for proof-of-work mining, even as operators face tighter margins.

The surge comes amid rising energy costs, which continue to squeeze miners already dealing with higher hardware expenses and more competition for block rewards. For many mining companies, the record hashrate highlights both the strength of the network and the financial strain of keeping large-scale operations running.

Hashrate is a key measure of how much computational power is devoted to processing Bitcoin transactions and protecting the blockchain. Higher levels can make the network more resistant to attacks, but they also reflect the growing energy demands of mining.

The latest increase is likely to keep debate alive over whether Bitcoin’s security model is sustainable at such a scale. Supporters argue the system is robust and increasingly resilient, while critics point to its environmental footprint and the pressure that electricity prices place on miners’ profitability.