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Bitcoin hashrate hits 8-month low as Chinese miners power down

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Bitcoin’s hashrate plummets to roughly 91 EH/s as Sichuan miners close up shop.

Bitcoin’s hashrate has fallen to its lowest levels since early November as mining operations in China start unplugging.

Bitcoin’s network hashrate, a measure of its computational horsepower, has slumped 46% since its peak level in mid-May. According to Bitinfocharts, Bitcoin hashrate is currently 91.2 EH/s.

BTC hashrate has not been this low for 8 months, last creeping below 90 EH/s on November 3, 2020. A higher hash rate means greater competition among miners to validate new blocks, also increasing the scale of resources required to perform a 51% attack and thus making the network more secure.

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