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Bitcoin Hash Rate Recovers As Chinese Miners Come Back Online After Moving Abroad

July 30, 2021
Source: kryptomoney.com kryptomoney.com
News Snapshot:
China’s strict crackdown on cryptocurrency put several Chinese Bitcoin (BTC) miners out of business, and their departure from the industry led to falling hash rates. However, since the miners started operations in other countries like the U.S. and Canada, the hash rate has gone up by 21.38%. The Chinese government recently ordered power stations across the country to suspend energy supply to BTC mining facilities, which crashed BTC’s hash rate. The hashing effectiveness, which is also the cumulative computing power of the BTC network, reduced to 84 Exahashes per second (EH/s) from an all-time high of 180 EH/s in 21...
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Tags: bitcoin | blockchain | BTC | Business | Canada | Chinese | Computing | crackdown | crypto | cryptocurrency | currency | energy | Ethereum | fintech | government | LED | network | online | power | U.S.

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