Bitcoin hash rate hits new all-time high, for the first time without China

Bitcoin hash rate hits new all-time high, for the first time without China

Key facts:
  • The network’s computing power has recovered 114% since its drop to 84.7 EH / s.

  • Now the network becomes more and more solid, as more miners spread throughout the world.

The hash rate Bitcoin had to surge more than 114% in five months to hit a new all-time high of 181 exahashes per second (EH / s) today. With this new record, the network shows that it is stronger than ever, with a frank recovery after the 50% drop in its mining power that occurred with China’s crackdown on cryptocurrency.

The hash rate exceeded 182 exahashes per second, breaking the historical levels seen in the first days of May, when it reached 180 EH / s. The infragility of Bitcoin has been revealed once again by restoring its solidity after falling to 84.79 EH / s when the country that generated the highest volume of hash rate banned cryptocurrency mining.

The Chinese government began its crackdown on Bitcoin in April this year, including a ban on cryptocurrency mining. From then on it took place a large migration of miners and companies, which have been settling in the US, the nation that now concentrates the greatest mining power.

Bitcoin hash rate hits new all-time high, for the first time without China
Nearly five months into its 50% drop, Bitcoin’s hash rate has surpassed the levels it was at before China banned cryptocurrency mining. Fountain: Glassnode.

China’s restrictions on Bitcoin have also been changing a lot in the industry. As reported by CriptoNoticias recently, a pool of mining of the United States, and not of China, is now the most powerful of all.

On the other hand, it is to be considered that, since 2013, the Asian country has prohibited, at least seven times, any type of operation, commercialization or promotion of the first digital asset, but on none of these occasions has Bitcoin stopped growing.

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