Hashrate is a measure of the amount of computing power that is provided to the network at any given time. The higher the hashrate, the more powerful the mining. Bitcoin has much more hashing power than all other cryptocurrencies combined. For those interested in cryptocurrency mining, it can be useful to calculate the expected hash rate of a computer or mining rig.
The Bitcoin network hashrate graph can be used to visualize the increases and decreases in Bitcoin mining hashrate, which can be seen in daily, weekly, monthly, 3 months, 6 months, 1 year, 3 years and all-time segments. Calculations of profitability are estimates and depend on factors such as electricity costs, mining difficulty and the price of Bitcoin. The blockchain is constantly growing and the difficulty of Bitcoin fluctuates over time, depending on the total computing power that is currently extracting blocks and generating hashes. Instead of mining being spread out around the world, the validation process is now controlled by fewer people than was originally envisioned when Bitcoin was created. The results of Bitcoin mining profitability and rewards can be calculated using a BTC mining calculator.
Most full Bitcoin nodes will have an option to view the current global Bitcoin hashrate using the getnetworkhashps command in the console window. The higher the hashrate of an individual Bitcoin mining machine, the more bitcoins that machine will mine. This information is used as the default input for the BTC mining calculator, along with the default hashrate and power specifications of the best ASIC Bitcoin miner. Each entry of the BTC mining calculator comes preloaded with the best Bitcoin mining hardware hash rate and energy consumption in watts, average electricity costs, as well as current Bitcoin price, reward for Bitcoin blocks and difficulty of Bitcoin. To secure and validate transactions, Bitcoin miners are constantly trying to solve the next Bitcoin block.
When a Bitcoin miner finds the right hash to solve the next Bitcoin block, they are rewarded with Bitcoin. This time, called block time, is applied according to the difficulty value of Bitcoin mining, which is adjusted up or down each time when difficulty of each block is readjusted so that blocks are solved in a constant interval of time. Given Bitcoin's hash rate, it's statically impossible to generate enough hashes to solve a single Bitcoin block alone (on your own). When it comes to mining Bitcoin, Litecoin, Dogecoin, Bitcoin Cash, Zcash or any other PoW cryptocurrency, a good hashrate is a higher hashrate.