Advertisement
AD

Main navigation

Bitcoin's Hashrate Comes Close to Recording New All-Time High Despite China's Ban

Advertisement
Sun, 3/10/2021 - 11:34
Bitcoin's Hashrate Comes Close to Recording New All-Time High Despite China's Ban
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Bitcoin’s hashrate, which shows the combined computational power of the network, spiked to 177.5 EH/s on Oct. 2, according to data provided by Blockchain.com.    

Advertisement

The closely-watched metric has managed to stage a stunning recovery after plunging in late June due to a slew of Chinese provinces moved to ban Bitcoin mining.

BTC
Image by blockchain.com

Related
China's Central Bank Says All Crypto-Related Transactions Are Illegal, Bitcoin Plunges 5 Percent
In early July, Bitcoin’s mining difficulty recorded a historic negative adjustment of 27 percent.   

China, which used to be the biggest hub for crypto miners, clamped down on the industry earlier this year to meet its emissions reduction targets.

The Bitcoin network reached its peak hashrate of 198.5 EH/s on Apr. 14, the day the cryptocurrency’s price hit its current all-time high of $64,804.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles