The hashrate of the Bitcoin network fell to its lowest level since November last year. According to the BitInfoCharts service, on June 20, the hash rate of the main cryptocurrency dropped to 91 Eh / s. On June 21, the hashrate of the coin is 104 Eh / s. The volume of computing power for bitcoin mining continues to decline after reaching a peak (171 Eh / s) in mid-May, RBC Crypto reports.
The drop in the hash rate of the main cryptocurrency network began after the calls of the Chinese authorities to tighten the regulation of mining and crypto trading. Two large cryptocurrency mining companies have already left China – BTC.TOP and HashCow. The crypto exchanges Huobi and Bybit stopped serving customers from mainland China.
A ban on mining cryptocurrency has already been introduced in four Chinese provinces: Sichuan, Yunnan, Qinghai and Xinjiang.
At the end of May, mining was completely banned in Iran due to the peak season of the load on the electrical networks. Several large cities have already experienced power outages amid rising electricity consumption and droughts, which are causing hydroelectric power plants to not operate at full capacity.
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