Bitcoin (BTC) Hashrate Recorded a Big Drop

Miners are trying to stand up after the historic Bitcoin (BTC) price collapse. According to data provided by blockchain.com, Bitcoin hashrate has dropped to its lowest level since September 2019 to 75 EH / s. If we rate it, we can say that there is a 44 percent decrease compared to 2 weeks ago.

Hashrate had reached the all-time high of 136 EH / s on March 1. Miners were durable despite the significant drop in Bitcoin price. But then little players, who could not stand any longer, were forced to close their equipment. Large-scale mining farms are unlikely to be affected by this, as they work long-term. During the previous surrender in December 2018, Chinese miners were able to profit from using excess energy from aluminum smelters, which allowed them to cut the cost of production to just $ 2,400 for a cryptocurrency.

Fall in Bitcoin Difficulty

As expected, the Bitcoin challenge dropped 16 percent. This is just behind the 18 percent drop on October 30, 2011. This was long before high-level ASICs appeared. The price of BTC had fallen by 50 percent when a downward adjustment was made previously.