The hash power of the Bitcoin network is growing again

The hash power of the Bitcoin network has started to grow again, albeit at a slower pace than earlier this year. Major Chinese mining hardware manufacturers have begun to resume work after the coronavirus outbreak delayed deliveries.

According to BTC.com, the hash rate over the last seven days has reached a new high of about 117.5 EH / s. The site also estimates that the difficulty of mining Bitcoin will increase by 2.15% in about five days. This evolution is due to the increased competitiveness of the miners in the network.

The positive evolution of the hash rate was manifested against the resumption of deliveries by Chinese companies.

Shenzhen-based manufacturer WhatsMiner, MicroBT, said it was gradually resuming business and shipments in mid-February. He also mentioned that access to the mining farms in the region is gradually resuming.

Similarly, Bitmain, located in Beijing, resumed domestic and international deliveries at the end of February. The internal repair service of the company has resumed its activity since February 20.

Adding to the competition, Canaan Creative, based in Hangzhou, a announced and the launch of the latest Avalon 1066 Pro on February 28th. It has a computing power of 50 TH / s. Also, the company gradually resumed its business since mid-February.

The hash power of the Bitcoin network is increasing

Charles Chao Yu, F2pool’s chief operating officer, said that the production and logistical capacity of the miners did not fully recover:

“There are still many mining farms where maintenance teams are not allowed to access,”

he said.

Yu expects Bitcoin’s hash rate to increase to no more than 130 EH / s in the next two months, before halving block rewards.

“Major manufacturers have already launched new, more powerful equipment, such as Bitmain AntMiner S19 and WhatsMiner M30 from MicroBT. This means that too many orders will not be placed for older models. As such, there will not be too many additional series AntMiner S17 or WhatsMiner M20 that will hit the market. ”

“It is unlikely that we will see the large-scale implementation of the M30S and S19 machines before June / July,”

said Thomas Heller, CEO of F2pool.

“We are also still waiting to see the impact of COVID-19 in South Korea and how it will affect the supply chain of the new WhatsMiner machines. They get the chips from Samsung, while Bitmain gets chips from TSMC in Taiwan. ”

The increase in mining activity is a result of improving the situation in China regarding the epidemic alert.