Connect with us

Bitcoin

Bitcoin Network Hashrate Soars to New Record of 900 Quintillion Hashes Per Second

Published

on

Global, April 15, 2025 – The Bitcoin network has achieved a monumental milestone, with its hashrate reaching an unprecedented 900 exahash per second (EH/s)—equivalent to 900 quintillion hashes per second (900,000,000,000,000,000,000 hashes/s). This record-breaking figure, reported by multiple sources including CoinWarz and posts on X, underscores the growing computational power securing the Bitcoin blockchain, even amidst economic and regulatory challenges.

The hashrate, a critical metric of the total computing power dedicated to mining Bitcoin, reflects the network’s security and resilience. On April 6, 2025, Bitcoin’s hashrate had already climbed to 900 EH/s, and this latest surge confirms the sustained upward trajectory, with some reports noting a peak of 1,000 EH/s earlier in the year. This growth comes despite the Bitcoin halving in April 2024, which reduced the block reward from 6.25 BTC to 3.125 BTC, a change that historically pressures miners’ profitability. Yet, miners have continued to invest heavily, driven by Bitcoin’s price hovering around $84,870 as of April 14, 2025, and advancements in mining technology.

This milestone follows a year of remarkable hashrate growth. In January 2024, the network’s hashrate was approximately 510 EH/s, meaning it has nearly doubled within 15 months. The surge is attributed to the deployment of more efficient ASIC miners, such as Bitmain’s S21 XP+ Hyd, which boasts a hashrate of 390 TH/s while consuming 7,215 watts, and the increasing adoption of renewable energy sources by mining operations to offset costs. For context, the Bitcoin network’s hashrate was just 736.81 EH/s in October 2024, highlighting the rapid pace of growth in a matter of months.

The implications of this hashrate record are significant. A higher hashrate enhances the network’s resistance to attacks, as it becomes exponentially more difficult for a malicious actor to control 51% of the computing power—a feat that would require an estimated $15 billion in hardware and energy costs at current rates, according to some analysts. However, some skeptics on X have questioned whether raw hashrate alone is a sufficient security metric, arguing that the cost to attack the network, adjusted for energy and hardware efficiency, provides a clearer picture. Advances in quantum computing also loom as a potential future threat, though experts note that such technology is unlikely to impact Bitcoin’s security for at least another decade.

The hashrate boom aligns with broader trends in the crypto space. Institutional adoption continues to grow, with companies like Metaplanet in Japan purchasing $26.3 million in Bitcoin this month, and U.S. Senator Cynthia Lummis advocating for a Strategic Bitcoin Reserve to tackle national debt. Meanwhile, former Binance CEO Changpeng Zhao’s recent prediction that AI systems will favor crypto over fiat currencies highlights the increasing convergence of blockchain and artificial intelligence—potentially driving further demand for Bitcoin’s computational infrastructure.

Despite the celebratory mood, challenges persist. The energy consumption of Bitcoin mining remains a point of contention, with the network consuming an estimated 150 TWh annually based on current hashrate levels, equivalent to the energy use of a small country. While some miners are pivoting to sustainable energy—Hut 8 Mining Corp reported using 40% renewable energy in 2024—environmental concerns could invite stricter regulations, particularly in regions like the EU, which has discussed crypto-mining restrictions.

The Bitcoin network’s latest hashrate record is a testament to its enduring growth and adaptability. As miners, investors, and policymakers continue to rally behind the world’s leading cryptocurrency, this milestone may well be a stepping stone to the zettahash era, with Bitcoin poised to redefine global finance in the years ahead.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CoinReporter.io and EUReporter.co does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin

Panama City Council Pioneers Crypto Payments for Public Services in Historic Vote

Published

on

By

On April 15, 2025, Panama City made history as its city council voted to become the first government institution in the country to accept payments in Bitcoin (BTC) and other cryptocurrencies for public services. The decision, announced by Mayor Mayer Mizrachi, allows residents to pay taxes, fees, permits, and fines using Bitcoin, Ethereum (ETH), USD Coin (USDC), and Tether (USDT), marking a significant step toward integrating digital currencies into municipal governance. This move positions Panama City as a regional leader in crypto adoption, reflecting a growing global trend of municipalities embracing blockchain technology.

The initiative bypasses previous legislative hurdles by partnering with a local bank to convert cryptocurrency payments into U.S. dollars on the spot, ensuring compliance with Panama’s legal requirement for public institutions to receive funds in USD. “Legally public institutions must receive funds in $, so we partner with a bank who will take care of the transaction receiving in crypto and convert on spot to $,” Mizrachi stated on X. He added that this model “allows for the free flow of crypto in the entire economy and entire government,” offering a practical solution without the need for new legislation—a challenge that had stalled prior efforts under previous administrations.

Panama City’s approach contrasts with El Salvador’s 2021 decision to make Bitcoin legal tender, which mandated its use and faced challenges due to price volatility. Instead, Panama’s model is optional, focusing on compatibility with existing financial systems while encouraging crypto adoption. The city joins a growing list of jurisdictions exploring crypto payments, such as Colorado in the U.S., which began accepting crypto for taxes in 2022, and Lugano, Switzerland, where Bitcoin payments for public services were approved in 2023. However, Panama’s national stance on crypto remains cautious—President Laurentino Cortizo vetoed a 2022 bill to regulate Bitcoin, citing financial regulation concerns, indicating that broader adoption may face challenges.

The decision comes amid a global surge in corporate and institutional interest in Bitcoin, with companies purchasing a record 95,431 BTC in Q1 2025, as reported by Bitwise. Panama’s move could further stimulate its local crypto economy, allowing residents to use digital assets for everyday transactions with the government without requiring institutions to directly manage them. The city has not yet disclosed which payment providers or wallets will be supported, but local authorities promised further guidance before the program’s full rollout later this year.

While this step is a milestone for crypto adoption in Latin America, its impact may be limited by the immediate conversion to USD, which some argue restricts true integration of digital currencies into the economy. For Panama to fully embrace crypto, structural changes might be needed to allow digital assets to circulate more freely without constant liquidation. Nonetheless, Panama City’s initiative could serve as a model for other municipalities, potentially pressuring national policymakers to revisit crypto legislation. As the world watches, this pioneering vote may inspire a broader shift in how governments interact with digital finance.

Continue Reading
Bitcoin2 days ago

Panama City Council Pioneers Crypto Payments for Public Services in Historic Vote

Bitcoin2 days ago

Corporate Bitcoin Adoption Accelerates with Record 95,431 BTC Purchased in Q1 2025

Bitcoin2 days ago

Bitwise Lists Four Crypto ETPs on London Stock Exchange

Bitcoin4 days ago

Bitcoin Network Hashrate Soars to New Record of 900 Quintillion Hashes Per Second

AI5 days ago

Former Binance CEO CZ Predicts AI Will Ditch Fiat for Crypto as Preferred Currency

Bitcoin5 days ago

Senator Lummis Champions Bitcoin Reserve Plan to Slash U.S. National Debt by Half in 20 Years

Bitcoin5 days ago

Metaplanet Bolsters Bitcoin Treasury with $26.3 Million Purchase, Signals Robust Crypto Strategy

Bitcoin1 week ago

President Trump Signs Historic Bill to Repeal IRS Crypto Broker Rule, Marking a Milestone for Digital Assets

Bitcoin1 week ago

Binance Expands Crypto Accessibility: Now Accepting Apple Pay and Google Pay

Bitcoin1 week ago

Mastercard and Kraken Join Forces to Bring Bitcoin Spending to Millions of Merchants Across Europe

Bitcoin2 weeks ago

Bitcoin’s Price Plummets: A Market Dip Sparks Global Attention

Bitcoin2 weeks ago

El Salvador Buys the Bitcoin Dip Again: A Bold Move in the Crypto World

Bitcoin2 weeks ago

Bitcoin Is Good for the World: A Vision from El Salvador

Bitcoin2 weeks ago

Jack Dorsey Announces Square’s Push for Bitcoin Payments on Terminals

Bitcoin2 weeks ago

$12 Billion Bitwise CEO Says Bitcoin Is Going to $1 Million: A Bold Prediction for the Future of Crypto

Bitcoin2 weeks ago

BlackRock Gains UK Regulatory Approval to Operate as a Crypto-Asset Firm: A New Era for Institutional Crypto Investment

Bitcoin2 weeks ago

$1.5 Trillion Franklin Templeton Eyes Bitcoin and Crypto ETP Launch in Europe: A New Era for Institutional Crypto?

Bitcoin2 weeks ago

Massive LUNC Burn from Binance: A Game-Changer for Terra Luna Classic?

Bitcoin3 weeks ago

Mastercard Explores New Frontier: Enabling Bitcoin and Crypto Transactions for Consumers

Bitcoin3 weeks ago

Tether USDT Acquires $8 Billion Worth of Bitcoin: A Game-Changing Move in Crypto

Bitcoin3 weeks ago

BREAKING: Michael Saylor’s Strategy Pays Off as MicroStrategy Snaps Up Another $1.92 Billion in Bitcoin

Bitcoin3 weeks ago

Japan’s Financial Services Agency to Redefine Crypto Assets as Financial Instruments by 2026, Nikkei Reports

Bitcoin3 weeks ago

BITMAIN Officially Releases 2025 Q4 Batch of ANTMINER S21 XP Hyd. with Competitive Pricing and Q4 Delivery

Bitcoin3 weeks ago

New Immersion-Cooled Bitcoin Miner A1566I Begins Shipping from Canaan, Boasting 261 Trillion Hashes Per Second

Bitcoin3 weeks ago

Advisor to Brazil’s Vice President Advocates for Sovereign Bitcoin Reserve, Calling It “Digital Gold”

Bitcoin3 weeks ago

BITMAIN Officially Releases 2025 Q4 Batch of ANTMINER S21 XP Hyd. with Competitive Pricing and Q4 Delivery

Bitcoin4 days ago

Bitcoin Network Hashrate Soars to New Record of 900 Quintillion Hashes Per Second

Bitcoin2 weeks ago

Massive LUNC Burn from Binance: A Game-Changer for Terra Luna Classic?

Bitcoin3 weeks ago

BREAKING: Michael Saylor’s Strategy Pays Off as MicroStrategy Snaps Up Another $1.92 Billion in Bitcoin

Bitcoin2 weeks ago

Jack Dorsey Announces Square’s Push for Bitcoin Payments on Terminals

Bitcoin2 weeks ago

BlackRock Gains UK Regulatory Approval to Operate as a Crypto-Asset Firm: A New Era for Institutional Crypto Investment

Bitcoin3 weeks ago

Senator Lummis Proposes Ambitious Plan to Gather 800,000 BTC for U.S. Strategic Bitcoin Reserve

Bitcoin3 weeks ago

Japan’s Metaplanet Issues Another ¥2 Billion in Bonds to Purchase More Bitcoin

Bitcoin3 weeks ago

Japan’s Financial Services Agency to Redefine Crypto Assets as Financial Instruments by 2026, Nikkei Reports

Bitcoin3 weeks ago

New Immersion-Cooled Bitcoin Miner A1566I Begins Shipping from Canaan, Boasting 261 Trillion Hashes Per Second

Bitcoin2 weeks ago

$1.5 Trillion Franklin Templeton Eyes Bitcoin and Crypto ETP Launch in Europe: A New Era for Institutional Crypto?

Bitcoin3 weeks ago

Tether USDT Acquires $8 Billion Worth of Bitcoin: A Game-Changing Move in Crypto

Bitcoin3 weeks ago

Mastercard Explores New Frontier: Enabling Bitcoin and Crypto Transactions for Consumers

Bitcoin3 weeks ago

Advisor to Brazil’s Vice President Advocates for Sovereign Bitcoin Reserve, Calling It “Digital Gold”

Bitcoin1 week ago

President Trump Signs Historic Bill to Repeal IRS Crypto Broker Rule, Marking a Milestone for Digital Assets

Bitcoin2 weeks ago

$12 Billion Bitwise CEO Says Bitcoin Is Going to $1 Million: A Bold Prediction for the Future of Crypto

Bitcoin2 weeks ago

Bitcoin’s Price Plummets: A Market Dip Sparks Global Attention

Bitcoin1 week ago

Mastercard and Kraken Join Forces to Bring Bitcoin Spending to Millions of Merchants Across Europe

Bitcoin5 days ago

Metaplanet Bolsters Bitcoin Treasury with $26.3 Million Purchase, Signals Robust Crypto Strategy

Bitcoin2 weeks ago

El Salvador Buys the Bitcoin Dip Again: A Bold Move in the Crypto World

Bitcoin2 weeks ago

Bitcoin Is Good for the World: A Vision from El Salvador

Bitcoin1 week ago

Binance Expands Crypto Accessibility: Now Accepting Apple Pay and Google Pay

Bitcoin2 days ago

Corporate Bitcoin Adoption Accelerates with Record 95,431 BTC Purchased in Q1 2025

Bitcoin5 days ago

Senator Lummis Champions Bitcoin Reserve Plan to Slash U.S. National Debt by Half in 20 Years

AI5 days ago

Former Binance CEO CZ Predicts AI Will Ditch Fiat for Crypto as Preferred Currency

Advertisement

Trending