Bitcoin Hash Rate Falls All Time – Bitcoin Magazine

The following is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine market bulletin premium. To be among the first to receive this information and other on-chain bitcoin market analysis straight to your inbox, Subscribe now.

The network is continuing very well along each block, but the average hash rate has taken a decent hit over the past month, dropping 17.4% from the recent all-time high. Much of the hash leaving the network that we are seeing is due to 1) the hash rate following a lower bitcoin price as older machines become unleasable on margin and 2) the impact of the recent heatwave in United States and reduction, especially in Texas. As energy demand soars during the summer months and electricity prices rise with it, we can expect periods when industry-wide miners halt the rate of hash in accordance with their electricity agreements.

Advertising

Leave a Comment