Category: Hashrate


Hashrate Follows Price: Bitcoin Hashrate Jumps 92% in 2 Months, Difficulty Expected to Increase in 4 Days


Hashrate Follows Price: Bitcoin Hashrate Jumps 92% in 2 Months, Difficulty Expected to Increase in 4 DaysBitcoin prices have improved a great deal in recent times and the network’s hashrate remains higher than it was 67 days ago when it tapped a low of 69 exahash on June 28. Today, statistics show Bitcoin’s hashrate has increased more than 92% since then and the network is due for another increased difficulty change […]


Higher Bitcoin Prices Create Resurrection of Old Mining Rigs, Outdated Miners See New Life


Higher Bitcoin Prices Create Resurrection of Old Mining Rigs, Outdated Miners See New LifeThe price of bitcoin has dipped a hair in value this past week, but the crypto asset is still up 14.4% over the course of the last month. Statistics show that Bitcoin’s hashrate has seen a resurgence and because bitcoin’s price has increased, mining profitability and hashrate has followed suit. Today’s top bitcoin mining rig […]


Bitcoin hashrate triples since June 28 in recovery from China syndrome


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 - CryptoQuant

The recovery of the BTC hashrate means that the network is much more secure and harder to attack.

The average Bitcoin hashrate — the amount of computing power in the network — hit an all-time high of 197.6 EH/s on May 13 according to Bitinfocharts. Over the six weeks or so that followed, it slumped by more than 65% as mining rigs across China were powered down for the “great miner migration”.

The metric is now approaching early June levels and, if the trend continues, could hit a new all-time high within the next couple of months.

In early May, Cointelegraph reported that there was already evidence that hashrate was moving away from China. Details on the migration are difficult to come by: Cambridge University’s well-sourced “mining map” has not been updated since April when it reported 65% of the hashrate residing in China.

Measuring hashrate data by mining pool is also inaccurate since many pools are a mix of hash power from physical facilities and miners from all around the world pooling computing resources.

Related: Bitcoin hash rate rebounds as major miners are coming back online

Since the hashrate has now recovered, it would indicate that the miner migration is almost complete. This has resulted in an increase in difficulty, with the last rise of around 7% occurring on Aug. 13. The next one is due any time now, which will mean higher computational costs for miners as more of the formerly China-based operations come back online to compete for blocks. The current estimate is for a 12.37% difficulty increase.

While the migrating operations were offline in June and July, miners already operating in countries such as the United States were able to rake in bigger profits due to the lower difficulty.

This week, Cointelegraph reported that U.S. mining firm Riot Blockchain announced record revenue for BTC mining during the second quarter.


Bitcoin Network’s Mining Difficulty Expected to See Largest Increase in Over 2 Months


Bitcoin’s hashrate has been steadily climbing after dropping to 69 exahash per second (EH/s) on June 28, as it reached a high of 117 EH/s on Tuesday morning (EDT). The rise in hashpower will likely lead to the highest difficulty expansion in 89 days as estimates currently show a 7.39% increase is due in two […]


Bitcoinsv Chain Suffers 51% Attack: Analyst Claims BSV Network Experienced a 100-Block Reorg


Bitcoinsv Chain Suffers 51% Attack: Analyst Claims BSV Network Experienced a 100 Block ReorgReports show that the Bitcoinsv blockchain suffered from a 51% attack on Tuesday, August 3, 2021, as the founder of Blockchair, Nikita Zhavoronkov explained the network endured a 100 block reorg “wiping out 570k transactions.” Onchain Observers Witness a Deep Bitcoinsv Reorg The Bitcoinsv (BSV) network has been having issues lately following problems the protocol […]


While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan’s Hydropower Plants Were Not So Lucky


While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan's Hydropower Plants Were Not So LuckyRegional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have zero carbon emissions by 2060 and the recent crackdowns on bitcoin miners […]


Bitcoin Difficulty Increases 6% — It’s Still 48% Easier to Find BTC Blocks Than It Was 30 Days Ago


Bitcoin Difficulty Increases 6% — It's Still 48% Easier to Find BTC Blocks Than It Was 30 Days AgoAs expected, Bitcoin’s mining difficulty increased this week jumping 6.03% higher on July 31. The change marks the first increase out of five difficulty adjustment changes. This was after four downward difficulty drops made it 54% easier to mine bitcoin than it was prior to mid-May. Bitcoin’s Mining Difficulty Increases 6%, Difficulty Is Expected to […]


Bitcoin Mining Difficulty Parameter Set to Increase for the First Time in 8 Weeks


Bitcoin Mining Difficulty Parameter Set to Increase for the First Time in 8 WeeksBitcoin’s hashrate has slowly crept back up between 85 exahash per second (EH/s) to 125 EH/s on July 14. The increase in hashpower has made it so the next mining difficulty change will increase for the first time in eight weeks. The four consecutive difficulty drops turned out to be the largest slide in Bitcoin’s […]


Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia in Mining Volume


Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia by Mining VolumeAn industry association representing the Russian crypto sector has launched a project to entice bitcoin miners. Despite its abundant sources of cheap energy, Russia is now lagging behind Kazakhstan, another Eurasian Economic Union member, in terms of cryptocurrency production. Russian Project Aims to Expand Country’s Crypto Mining Capacity The Russian Association of Crypto Industry and […]


4 Consecutive Difficulty Drops Make Bitcoin Block Rewards 49% Easier to Find


4 Consecutive Difficulty Drops Make Bitcoin Block Rewards 49% Easier to FindFollowing the largest mining difficulty drop in Bitcoin’s history, this weekend will once again see another slide, but less than 6% of the difficulty will be shaved. Statistics show Bitcoin’s hashrate has been able to climb higher since the difficulty drop two weeks ago, and climbed above 100 exahash per second (EH/s) this week. This […]



Exchange Providers Halt BSV Services as Mining Pool Captures 78% of BSV Network Hashrate


Exchange Providers Halt BSV Services as Mining Pool Captures 78% of BSV Network HashrateThe cryptocurrency community has been discussing the Bitcoinsv network as a mining pool called Taal has well over 51% of the hashrate. Data from the analytical crypto website Coin Dance shows the mining pool Taal commands over 78% of the network’s hashrate during the last 24 hours. On Tuesday, the European cold storage provider, Gravity, […]


Greenidge Joins Foundry USA, Deal Gives Bitcoin’s Fifth-Largest Pool 800 Petahash


Greenidge Joins Foundry USA, Deal Gives Bitcoin's Fifth-Largest Pool 800 PetahashGreenidge Generation Holdings Inc., the mining firm based in Upstate New York, has announced the company has partnered with the Digital Currency Group mining and staking subsidiary Foundry Digital LLC. Furthermore, Greenidge revealed that it has purchased 2,300 Microbt-manufactured Whatsminer M30S mining rigs and also secured financing for 6,000 Bitmain-made Antminer S19 devices. Greenidge Partners […]


As Miners Leave Bitcoin in Droves, Space Allocation Dedicated to Filecoin and Chia Surges


As Droves of Miners Leave Bitcoin, Space Allocation Dedicated to Filecoin and Chia SurgesWhile a large quantity of hashrate has stopped dedicating resources to the Bitcoin network, a great number of alternative mining ecosystems are swelling with new participants. China’s ASIC exodus has ignited a significant increase in demand for accessing storage power on both Filecoin and Chia’s proof-of-storage networks. Both networks have seen space allocation spike significantly […]


Bitcoin Mining Report Claims Miner Energy Consumption Mix 56% Sustainable in Q2


Bitcoin Mining Report Claims Miner Energy Consumption Mix 56% Sustainable in Q2During the last three months, there’s been a significant focus on the effects bitcoin mining has on the global environment. While many have claimed bitcoin mining is bad for the environment and many others have stressed that it affects the environment in a positive way, either way, most are relying on unreliable and old data […]


Bitcoin Blocks Will Soon Be 27% Easier to Find — Miners Brace for the Largest Difficulty Drop in BTC’s Lifetime


Bitcoin Blocks Will Soon Be 27% Easier to Find — Miners Brace for the Largest Difficulty Drop in BTC's LifetimeBitcoin, the leading crypto asset in terms of market capitalization, has seen the cryptocurrency’s network hashrate drop considerably during the last two weeks. On Saturday, July 3, the network’s mining difficulty will see the largest epoch drop in history as the difficulty is set to slide by more than 27%. Bitcoin Difficulty Expected to Drop […]


Blockware Mining Raises $25M — Firm Looks to Make ‘Hashrate in the US More Globally Competitive’


Blockware Mining Raises $25M — Firm Looks to Make 'Hashrate in the US More Globally Competitive'On Wednesday, the North American bitcoin mining operation Blockware Mining announced the firm closed a $25 million investment round. According to the company, Blockware Mining aims to leverage the financing to expand operations “beyond its currently installed North American footprint.” Blockware Raises $25 Million, Purchases 14,000 ASIC Miners Blockware Mining, a bitcoin mining infrastructure and […]


Myriad Proof-of-Work Blockchains See Significant Hashrate Losses


A Myriad of Proof-of-Work Blockchains See Significant Hashrate LossesWhile there’s been a lot of concentration on bitcoin mining crackdowns in China and Bitcoin’s recent hashrate loss on Monday, many other digital assets have seen hashrates drop significantly as well. Some of the largest digital currencies, in terms of market valuation, lost considerable dedicated hashpower over the last few days. PoW Chains Feel the […]


Bitcoin Hashrate Drops 35% Intraday — Mining Difficulty to Drop by 23%


Bitcoin Hashrate Drops 35% Intraday — Mining Difficulty to Drop by 23%Bitcoin’s hashrate experienced a large drop of almost 35% in a single day. The hashrate plummeted from 108 exahash per second (EH/s) yesterday to today’s 69 EH/s, seeing one of the sharpest declines in the network. This might be a consequence of the situation going on with miners in China. Numbers further estimate a mining […]


Bitcoin’s Hashrate Recoups Some Loss, 2021’s Largest Mining Difficulty Drop Expected Next Week


On Saturday, Bitcoin’s SHA256 hashrate managed to climb back above the 100 exahash per second region after it slid to a low of 91 EH/s three days ago. Meanwhile, in five days the network’s mining difficulty change is approaching and it could see the difficulty drop over 20%. Bitcoin Hashrate Climbs Back Above 100 EH/s, […]


After Years of ASIC Manufacturing Canaan Expands to Bitcoin Mining in Kazakhstan


After Years of ASIC Manufacturing Canaan Expands to Bitcoin Mining in KazakhstanCanaan Inc., the crypto mining rig manufacturer based in Beijing, has announced the company plans to mine cryptocurrencies in Kazakhstan. The company says that the firm’s next-generation Avalonminer mining rigs are already deployed in the world’s largest landlocked country. Canaan Joins the Bitcoin Mining Fray The publicly-listed company Canaan (Nasdaq: CAN) has revealed the firm […]


Bitcoin’s Hashrate Drops Below 100 Exahash, Observers Describe China’s ‘Great ASIC Exodus’


Most of the crypto community has been focused on the developments in China and more specifically, the crackdowns against bitcoin miners in Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan. On Wednesday morning (EST), Bitcoin’s overall hashrate has continued to drop and is now below the 100 exahash per second (EH/s) region. During the last 24 […]


As China Cracks Down on Bitcoin Miners, Stealth Miners and Mystery Hashrate Return


As China Cracks Down on Bitcoin Miners, Stealth Miners and Mystery Hashrate ReturnsWhile on the surface it seems officials from five provinces in China have been cracking down on bitcoin miners, no one is quite sure how much hashrate is moving, which pools are affected, or where these miners will end up. A number of mining pools have seen hashpower percentages decline and Bitcoin’s overall hashrate has […]



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