Yesterday, the hashrate of the Bitcoin network increased from 112.6 EH/s to 164.5 EH/s, according to data provided by Coinwarz. The daily growth amounts to approximately 46%. Later, the indicator decreased and now stands at 127.86 EH/s.
At the same time, according to Blockchain.com, the hashrate of the reference crypto rose by more than 60% over the past week.
Quantum Economics analyst Jason Dean believes that this rise is the result of the large number of ASIC miners that have joined the network after the migration of Chinese miners from the province of Sichuan. According to him, the electricity contracts of the miners in this province usually end on October 25.
Furthermore, this latest upturn in the hashrate has been preceded by the biggest recalculation of the difficulty of Bitcoin mining since 2011. Just a week ago, the figure fell by 16%, which contributed to the miners' readiness to reconnect their equipment to the grid.
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