Miners Return to Work: Bitcoin Hash Has Exceeded 100 EH / S
The activity of miners began to increase after Bitcoin exceeded the $6,000 mark. On 24 March, the BTC hash-rate rose to 108.6 EH / s, Blockchain.com data shows.
The amount of computing power in the network used to mine the first cryptocurrency began to recover after a massive drop provoked by a sharp weakening of Bitcoin.
The first cryptocurrency in early March fell below $4,000, which caused many miners to disconnect from the BTC network.
Now Bitcoin is trading slightly above $6,500, this kind of cryptocurrency cost more or less suits large mining pools, which could increase capacity.
Note that over the past few weeks, the share of Russian miners in the Bitcoin network has increased. They took advantage of the weakening of the ruble against the dollar, as the cost of electricity also decreased in the Siberian regions of Russia, where the lion’s share of enterprises is located.
However, despite a slight recovery in the hash rate, the current cryptocurrency price is still lower than the cost of mining BTC for most equipment, and many miners continue to work at a loss.
Author: Marko Vidrih
Featured image credit: Pixabay