Bitcoin's hash rate has reached an all-time high on Genesis Block's 16th birthday. The consolidation of Bitcoin mining operations in the past year, particularly after the halving, has led to an optimistic view of the future from surviving miners. Despite uncertain factors in the Bitcoin ecosystem, such as the concentrated control of the network's hash rate by a few companies, some mining firms are experiencing success and continue to be bullish on Bitcoin's future. The recent bull market has prompted more miners to hold onto their assets rather than sell them.



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