Bitcoin hashrate drops by 27% in one day
The indicator fell to 159,41 EH/s, which is the first time since February 2022 that such a low value has been recorded
14.07.2022 - 16:20
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What’s new? Bitcoin's hashrate dropped 27% overnight to 159,41 EH/s. According to BTC.com, this is the first time in five months that such a situation has occurred: a drop to 157,89 EH/s was recorded on February 5, 2022. As of July 14, 15:00 UTC, BTC is trading at $19 898, having added 1,58% overnight, according to Binance.
Hashrate is the total processing power on the network. Mining difficulty determines the amount of computing power it takes to find a new block in the blockchain. Generally, higher hashrates indicate higher network performance.
Why has the hashrate gone down? On July 11, it became known that almost all major cryptocurrency mining companies were suspending operations in Texas due to power grid overloads amid the abnormal heat wave. They included Riot Blockchain, Argo Blockchain and Core Scientific.
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