Since China’s Mining Ban, Bitcoin Hashrate Has Recovered by 68% And Counting
Bitcoin is a perpetual motion machine. The Bitcoin hashrate is slowly climbing to pre-China-ban levels, and the service continued uninterrupted without a hiccup. Such is the power of well-placed incentives. Pantera Capital’s CEO Dan Morehead adds one more factor to the equation. “The bitcoin network has recovered 68% of the drop in hashrate that our difficulty model attributed to China’s ban—likely in places with cleaner energy.” The recovery is happening exactly as forecast. The #bitcoin network has recovered 68% of the drop in hashrate that our difficulty model attributed to....
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Hashrate has now recovered to early June levels indicating that miners are coming back online after China’s crackdown. The hashrate for the Bitcoin network has made a remarkable recovery since it crashed following China’s crypto mining clampdown earlier this year.The Bitcoin hashrate has now topped 150 Exahashes, or one quintillion hashes, per second according to data from analytics provider CryptoQuant.On Aug. 24, the metrics provider reported a hashrate of 152 EH/s which has tripled since it bottomed out this year on June 28 at 52 EH/s.BTC hashrate - CryptoQuantThe recovery of the BTC....
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Data shows the Bitcoin mining hashrate has already rebounded from its latest plunge, suggesting that miners haven’t given up hope just yet. Bitcoin Mining Hashrate Has Surged Back Towards High Levels The “mining hashrate” refers to the total amount of computing power that the miners have attached to the Bitcoin blockchain. This metric can tell […]
After the researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project said that the website’s “Bitcoin Mining Map” had not been updated since April 2020, the map has finally been updated. Current data from the mining map shows the coverage goes all the way up until April 2021, and the estimate of China’s hashrate dominance is much lower than previous estimates. New Estimates Show China Has Less Hashrate Than Previous Statistics University of Cambridge data from the Cambridge Bitcoin Electricity Consumption Index (CBECI) indicates that China....