Bitcoin hashrate jumped by 30% in a day

by in Cryptocurrency News

Bitcoin

Over the past 24 hours, hashrate of BTC has grown by about 30%, and in two days this figure has jumped more than 40%.

On Tuesday, November 10, the computing activity on the network reached 119.8 exaches per second (EH / s). Recall that in early November, the BTC hash rate began to fall rapidly against the backdrop of weakening activity of Chinese miners.

The rainy season in the Celestial Empire ended, which led to the suspension of the operation of some of the equipment for the production of cryptocurrency. While miners were looking for new regions with comfortable energy tariffs, the computing activity in the network continued to fall.

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Economist Jason Ding linked the growth of bitcoin hashrate to the completion of the migration of miners from Sichuan province to Inner Mongolia and Xinjiang region.

The surge in computing activity is likely to seriously affect the adjustment of mining difficulty. The recent drop in the BTC hashrate has led to a reduction in the complexity of mining by about 16%.

Last month, Arcane Research published a study in which it drew attention to the increase in the share of Kazakhstan and Iran in the bitcoin hashrate. At the same time, analysts emphasize that the lion's share of the network's capacity is still controlled by Chinese mining pools.