The hash rate in securing Bitcoin and Ethereum is slowly picking pace as Chinese miners shift overseas, according to TheBlock.
- The seven-day moving average of Bitcoin’s hash power has moved up and remains at 100 exahashes per second in the past three weeks.
- Bitcoin’s hash rate plummeted to below 90EH/s, the lowest since early 2020, following a crackdown in bitcoin mining in China.
- The Chinese regulators had ordered the suspension of power to mining facilities. Bitcoin is now expected to register 4% growth moving forward.
- Ethereum hash rate had plunged following the crackdown by above 20% but has been on an upward trend with above 500 terahashes per second.
- Bitcoin Mining announced it had shipped 3,819 units of BIT mining equipment with a hash rate of 172 PH/s to Kazakhstan.
- BIT Mining has begun mining operations outside China with 86.4 gigahashes per second.
- The NYSE listed miner expects an additional hash power capacity of 4,713.6 GH/s to be deployed at the end of October this year.
BIT mining bought 2,000 Ethereum miners worth $30 million in February due for shipment this year.
BTCUSD is up + 0.95 %, ETHUSD is up + 0.99%.