On-chain data shows the Bitcoin mining hashrate has continued its decline as the price of the cryptocurrency itself has seen a setback.
7-Day Average Bitcoin Mining Hashrate Down Over 8% Since All-Time High
The “mining hashrate” refers to an indicator that keeps track of the total amount of computing power that miners have currently connected to the Bitcoin blockchain. This metric is generally considered to represent the current situation of the BTC miners.
When the value of the indicator rises, it means new miners are joining the network and/or old ones are expanding their facilities. Such a trend implies the chain is looking attractive to these chain validators.
On the other hand, a decline in the metric suggests some miners have decided to disconnect from the network, potentially because they are no longer finding BTC mining to be profitable.
Now, here is a chart that shows the trend in the 7-day average Bitcoin mining hashrate over the past year:
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We współpracy z: https://bitcoinist.com/bitcoin-mining-hashrate-drawdown-8-all-time-high/
