On March 23, Bitcoin's hash rate soared to an all-time high of 398 terahash per second (TH/S), and investment analysts speculated that miners were gradually restarting drilling rigs as Bitcoin prices rose.

According to the data aggregation site YCharts, as of March 27, the Bitcoin Internet hash rate had fallen to 344.63 cyber S, up from 335.32 on March 26, but still higher than 178.77 scarp S a year ago.

In a post on March 26th, Rob Wooters, an exploration investment analyst at Bitcoin and River Financial, a financial services provider, speculated that the surge in hashing was related to the availability of unused mining inventories, the delivery of new equipment and entrepreneurs looking for cheap sources of mining.

"although the price of Bitcoin is relatively low and as much inventory as possible was put online last year, in some cases, the maximum capacity that the Internet can solve has been reached," he said.

Wouters added: "now that prices are rising again, and it has been a while, more of this inventory can be put online."

In addition, Wouters said, Hydro models and specifications are gradually coming to market, with 250 TH/S per device, which increases the very large hash rate.

Stifel, an investment bank, expressed a similar view in a data analysis on March 20, speculating that the recent price surge may have something to do with miners bringing hardware configurations back online.

"We expect the overall Internet hash rate to soar again as the hardware seduced by prices is recycled by asset-rich miners."

Nazar Khan of TeraWulf, a Bitcoin mining company, explained in an interview with Cointelegraph that the company is now increasing the hash rate of all its rigs and has recently completed more online on a new Nautilus Cryptomine device.

Wolf also has the opportunity to increase 80MW capacity at LMD and 500000 kilowatts at Nautilus. The recent price market shows that there is long-term value in reducing the level of expansion of the energy base.

While some speculate that relatively low prices drive miners to turn off their drilling rigs and wait for bitcoin prices to improve, TeraWulf can continue to mine bitcoins at the lowest prices because they have lost costs from "efficient mining convoys," according to Khan.

But whatever the reason for the surge, Khan shows that TeraWulf estimates that Internet hash rates cannot continue to increase in the first half of the year, regardless of BTC prices.

"there is a lag between project investment determination and production capacity launch," Khan explained.

Magazines and periodicalsBest and worst data encryption tax China / region-plus data encryption tax reminder