Over the past week, the hash rate of the leading cryptocurrencies has been restored. This is due to the transfer of capacities from China, where the bans on mining led to the shutdown of many farms.
The hashrate of the Bitcoin network has returned to 100 Eh / s. Peak 175 Eh / s is still a long way off, but this is a noticeable recovery from the recent dip below 90 Eh / s. The bans by the Chinese authorities have led to a drop in the hash rate of 45% – to levels of early 2020.
The bans of the Chinese authorities affected the network of the second cryptocurrency less significantly – the drop was about 20%. But here, too, there has been a tendency for the hash rate to recover lately. If earlier the indicator was 475 Eh / s, now it has again exceeded 500 Eh / s.
Mining equipment migration outside China contributes to hashrate recovery. Some companies export their devices to the USA, others choose Kazakhstan or Russia. For example, the Russian company BitRiver, which provides services for the placement of mining equipment in Siberia, signed agreements with Chinese partners for the placement of ASIC miners with a total capacity of 150 MW.
Recently, the Russian Association of Cryptoindustry and Blockchain (RAKIB) announced the launch of a project to attract miners to Russia. And BIT Digital moved almost 15,000 miners to the United States.
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