What is Bitcoin's base average

growth rate?

Part 2: Tracking Hashrate growth.

Between Nov 2018 and Nov 2024 the hashrate of the mining network grew from 46.5 Million TH to 702 Million TH. That's a growth of 15.1 times. This is only 6 years of growth.

Expressed as an annual growth rate, that's 57.2% or 1.572^X.

The hashrate is not a direct measure of value however, as the efficiency of mining hardware grows over time and reduces the relative value of each hash.

Continued in Part 3: Miner hashrate efficiency growth.

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