New Bitcoin hash rate highs remove any trace of China mining ban
China’s exit from Bitcoin mining is now all but unnoticeable as network fundamentals take care of their own recovery. Bitcoin (BTC) has all but deleted any trace of the mining ban, which saw its hash rate dive 50% this year.According to the latest estimates, the network hash rate is now back at levels from May, just before China outlawed its Bitcoin mining industry.Hash rate recovers the dipFive months since the largest-ever migration in Bitcoin’s history began, network fundamentals have staged a major comeback.Coming in leaps and bounds as miners relocated and started over, the recovery....
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China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year. The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report.China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity....
Bitcoin network hash rate hit a new record high, seeing a 400% increase since the mining ban by China last year. The hash rate of the Bitcoin (BTC) network hit a new ATH, even when the price of the top cryptocurrency struggled to get past the $40K mark.The network's hash rate hit a new record high of 258 EH/s on Thursday before settling around the 220 EH/s mark. The recent rise in the BTC network hash rate signifies the growing number of miners on the blockchain. The bitcoin network hash rate has grown more than 400% since the Chinese crypto mining ban last year when it fell below 70....
The overall security of the Bitcoin protocol, or hash rate, hit a new high of 158 exahash per second despite the price being down over 50% year to date. Bitcoin miners can’t stop, won’t stop. The Bitcoin (BTC) hash rate continues to surge to new all-time highs, despite a heavy price drawdown. The Bitcoin mining hash rate peaked at 258 exahashes per second (EH/s) on Oct. 4, according to Braiins Insights, a mining data tools and metrics company. Although the Bitcoin price is down 58% year-to-date against the United States dollar, the mining hash rate is up 43%.The past 3 months Hashrate.....