Bitcoin hashrate went as low as 103 EH/s and rose as high as 189 EH/s within three months. Amidst China’s crackdown on Bitcoin mining, the hashrate still keeps increasing significantly. It shows that this digital asset will continue dominating the financial markets no matter what crisis it faces.
Going back to July, Bitcoin’s hashrate went downhill to 103 EH/s, but at the time of writing, it is at 137 EH/s. Between July and now, the hashrate of BTC also got as high as 189 exahash per second (EH/s).
The reason why it has decreased after hitting the highest mark is none other than China’s crackdown. After China banned all kinds of Bitcoin mining and trading activities, it forced many institutes out of the country. All of this massively hit Bitcoin’s hashrate. Nevertheless, the Chinese miners have now resumed their activities from countries with green energy sources. Therefore, Bitcoin mining’s decentralization is now far away from the Xi Jinping-led country.
Currently, the preferred locations for crypto miners who left China are the United States, Russia, and Kazakhstan.
BTC’s value has risen massively in the past month, and the miners are making the most out of it. The biggest BTC mining pool is the F2pool having 17.56% asset mining power. Followed by Antpool with 17.11%, making it the second-biggest mining pool.
It is important to note that BTC mining difficulty may increase in the next week by 2.20%. At the time of writing, it is at 20.08 trillion and would rise to 20.52 trillion approximately.
