Data from the chain shows that the hashtag of bitcoin mining has fallen in the past two months. Miners can expect complexity to rise by 12% soon.
The heshreyt of Bitcoin mining is currently 152b (PG / s
As stated in cryptoquant’s message, the heshreyt of cryptocurrency mining continues to recover from failure. Currently the value of the indicator is about 152b gr / s.
Because Bitcoin uses a job confirmation mechanism (PoW) to reach consensus, verifying nodes requires a lot of processing power to join the network. The mining hashreti shows the total amount of this processing power available across BTC’s entire network.
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The indicator helps to assess the strength of the network. The greater the value of the metric, the higher the security, and therefore the more complex the likelihood of malware attacks.
Now here’s a chart showing the trend of change in the value of bitcoin mining over the past year:
BTC’s mining hashree is slowly recovering / source: CryptoQuant
As you can see from the chart above, the hashraiti of bitcoin mining collapsed in June this year, reaching a minimum of 52 billion gr / s by the end of the month.
The indicator has since been on the road to recovery and has now reached 152B GH/ s, almost three times the value of the dip.
The cause of the collapse and why American miners are benefiting
the suppression of bitcoin mining in China at the beginning of the year is the reason for the failure of the heshreyta network. The nation forced its miners to shut down operations, and because much of the global heshreyt lives in the country, the effects on the network were severe.
Because the problems with mining were directly related to the processing power in the network, its cost fell after Chinese miners were forced to move their farms elsewhere.
Read more / Nvidia RTX 3060 GPUs sold by miners for just $ 270 as pressure continues in China
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