BTC hashrate down by 45%, the lowest since 2018

BTC's general hashrate has dropped 45% in 30 days. The value drop originated from the approaching financial crisis frightening the whole world.

On 29th of February, the system's hashrate spiked to an all time high, arriving at 136 EH/s.

However since the infamous "Black Thursday" on March 12, BTC's hashrate dropped to a low of 75 EH/s.

Some miners are reported to be paying above $0.05 per kilowatt-hour (kWh) which is not very profitable for their operations resulting in a shutdown of some mining operations.

The last occasions BTC saw such a radical dip were in December 2018 (15%) and October 2011 (around 18%). The value drop BTC experienced a week ago was the most noticeably awful in years and it wasn't pleasant for stakeholder looking forward to a bull run.

In the interim, with current lows, a couple crypto spectators have seen much more miners switching to and fro between the BCH and BTC systems.

Originally posted on CodeInfo. Hive blog powered by ENGRAVE.