BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Bitcoin Mining Hash Rate Drops to Lowest in 180 Days

Bitcoin Mining Hash Rate Drops to Lowest in 180 Days
Large scale bans in bitcoin mining in China have seen the mining hash rate hit a three-month low.



The total hash rate (TH/s) has hit a new three-month low as China continues its clampdown on bitcoin mining operations within the country. 



The estimated number of tera hashes per second the bitcoin network is performing in the last twenty-four hours hit 127.65M. Down from its peak of 180.66M on May 14. 



China clampdown to blame



The recent clamp down on bitcoin mining within the country appears to be the key driver in the hashrate decline. China has recently taken steps to prevent bitcoin mining in the country by banning large scale mining farms. The move has also seen China prohibit financial institutions from using crypto services. 



Following a large- scale crackdown of miners over the weekend, Antpool had dropped to third behind F2Pool and ViaBTC. While its hashrate plummeted over 37%. Mining pools that saw significant decreases in hash rate power following the wide-spread ban include AntPool, Foundry USA, SlushPool, and OKKONG. Huobi Pool reportedly managed to gain double-digit computing power growth with an increase of 10.74% 



China focuses on CBDC



While the ban has hit local mining operations in the country extremely hard, China continues to make headway with its Central Bank Digital Currency (CBDC). China aims to have the world’s most advanced blockchain technology by 2025, following its recent guidelines for blockchain development. 



China is currently rolling out its CBDC offering through digital yuan lotteries across the country. Beijing residents can apply through a pair of banking apps to win one of 200,000 red packets. With each red packet containing 200 yuan.   



China has also added digital yuan support to over 3,000 ATMs across Beijing. With Two banks in China already offering cash exchange services for the digital yuan.
The post Bitcoin Mining Hash Rate Drops to Lowest in 180 Days appeared first on BeInCrypto .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Bitcoin Mining Hash Rate Drops to Lowest in 180 Days


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News