Bitcoin hashrate dropped by 10% in 5 days
As of June 18, the figure smoothed by a seven-day simple moving average is 209 EH/s
![Bitcoin hashrate dropped by 10% in 5 days](https://storage.getblock.net/source/1/kjnoKEZtaBQ26jELCHvw5LmhY8j1riTw.webp)
18.06.2022 - 08:55
325
2 min
0
What’s new? In 5 days,bitcoin’s hashrate has dropped by more than 10% from the record value reached on June 12. At that time, the hashrate was climbing to 234 EH/s after the BTC rate fell below $25 000 for the first time since 2020. As of June 18, the figure, smoothed by a seven-day simple moving average (SMA), stands at 209 EH/s. Profit per 1 TH/s of mining capacity has fallen to the levels of October 2020, according to HashrateIndex. As of 08:50 UTC, BTC is trading at $19 165, down by 9,53% in price in 24 hours, according to Binance.
Source: Data.hashrateindex.com
Hashrate is the total computational power in the bitcoin network. The mining difficulty determines the amount of computing power it takes to find a new block in the blockchain. The parameter changes every 2016 blocks, or about once every two weeks. This ensures that the time it takes to find a block is around 10 minutes.
In May, miners transferred 195 663 BTC to cryptocurrency exchanges, which is the biggest monthly flow since January 2022. Based on the average bitcoin price in May ($32 000), the total value of assets transferred to the platforms was around $6,3 billion. According to a report by Compass Mining, cryptocurrency mining became less profitable and its participants started selling their assets on the open market to cover power expenses.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024