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Bitcoin hashrate returned to levels before the “flight” of miners from China

After the mining ban in China, the Bitcoin hash rate reached spring levels again, showing 188.666 Eh / s today. According to current indicators, the difficulty of mining may grow by another 6%.

According to the latest
estimates, Bitcoin hashrate returns to May for the first time since mining was banned in China. Mining hash rate is a key security indicator, the more computing power of the network, the higher the resistance to attacks. Z

and the last 24 hours the maximum speed was 188.666 Eh / s. If the difficulty of mining increases in accordance with
forecasts by 6%, then it will exceed 21 trillion. In addition, the difficulty of mining bitcoin will increase eight times in a row for the first time since 2018.

After the mining ban in China, there was the largest “migration” of industrial miners to neighboring countries and even to North America. Returning hashing powers to pre-banned levels signals the stabilization of the network. Along with the introduction of the digital yuan, the rise in hash rates was one of the reasons why mining in China was banned a few months ago, as the government began to focus on the environment and limiting energy consumption.

According to the Cambridge University Miner Energy Consumption Index, in May, Chinese miners generated 44% of the total hashrate of the Bitcoin network. By July, after the ban, the share of Chinese miners dropped to zero. Miners from the USA, Kazakhstan and Russia have benefited from the ban, these countries now occupy leading positions.

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