Bitcoin’s network computing power, measured as hashrate, has experienced a significant dip recently. Data reveals a reduction of approximately 100 exahashes per second (EH/s) over the last two weeks. This contraction suggests a decreased level of participation in the global Bitcoin mining arena.
This reduction in mining activity aligns with a notable decrease in miner profitability. Specifically, earnings per petahash (PH/s) have decreased by $2 compared to the previous month. This decrease highlights the pressures Bitcoin miners are facing due to evolving network dynamics and the resulting impact on their profit margins.
Global Bitcoin Hashrate Pulls Back