Bitcoin hash rates have returned to all-time highs after dropping to 84 EH / s in June and returning to 175 EH / s this week as we can see from our latest Bitcoin news today.
Bitcoin hash rates have returned to an all-time high when they dropped to 84 exaheshes per second in early June after the Chinese government took tough measures against the mining sector. According to Blockchain.com, glboal has increased its hash rate by 108% since June, with the BTC network posting an average of 175 EH / s in seven days on Wednesday.
This is about 3% below the high of 180 EH / s seen at the peak of the previous bullish cycle in May. It is widely believed that the dynamics of the hash rate versus the BTC price suggests that, despite the current gloomy market sentiment, it could be some kind of positive price action going forward. The actual global ATH hash is really difficult to determine, but many popular platforms differ in their estimates of the historical and current performance of the BTC network. According to BitinfoCharts, a new all-time high was 197 EH / s in May and then dropped to 68 EH / s in June – 186 EH / s in June.
Before the ban, BTC miners from China accounted for 70% of the global hash rate, so the situation has changed dramatically since then, as the United States became the country with the majority in the index.
As recently reported, Bitcoin cleared the traces of the mining ban, causing the hash rate to drop 50%, with the latest BTC hash rate rising, reaching levels in May, five months after the start of the largest migration in BTC history, the Fundamentals network. made a massive comeback. As miners move around, hash recovery and network issues get closer to the heart of the matter. While the exact conditions cannot be measured, the hashrate has explained the entire decline of China and has more than doubled from its lows a few months ago.