Bitcoins hash rate has tripled in the past two months

The first cryptocurrencies processing capacity is back to pre-mining ban values in China
Bitcoins hash rate has tripled in the past two months

Bitcoin’s hash rate reached 152 EH/s and tripled since June 28, when it dropped to a local low of 52 EH/s, according to analyst firm CryptoQuant. Total processing power on the first cryptocurrencies network set a historic high of 197.6 EH/s on May 13, before falling by 65% over the next six weeks. This happened against the background of the ban on mining in China.

Against the background of hashrate recovery, the difficulty of mining the first cryptocurrency is also growing. In the last recalculation, it increased by 7%, to 15.56 trillion hashes (T). At the same time, the value remains far from the peak of 25.05 T set in May. Network complexity determines the amount of computing power required to find a new block in the bitcoin blockchain. This parameter changes every 2016 blocks, or about once every two weeks. This is necessary to keep the block finding time around 10 minutes.

The bitcoin exchange rate is also recovering. On Aug. 25, the cryptocurrency is quoted at $48,400, according to CoinGecko. On July 20, the value of the asset fell below $30 thousand, since then it has risen by 67%. The coin’s market capitalization has once again surpassed $910 billion.

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The post was written by Crypto Expert John Belford

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