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New Bitcoin hash rate highs remove any trace of China mining ban
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Bitcoin (BTC) has all but deleted any trace of the mining ban which saw hash rate dive 50% this year.
According to the latest estimates, the network hash rate is now back at levels from May, just before China outlawed its Bitcoin mining industry.
Five months since the largest ever migration in Bitcoin’s history began, network fundamentals have staged a major comeback.
Coming in leaps and bounds as miners relocated and started over, the recovery in hash rate and network difficulty is now approaching a seminal point.
While impossible to measure in definitive terms, hash rate has seemingly accounted for the entire China debacle, doubling from its bottom several months ago.
Likewise, the mining difficulty is set to increase by 5.7% next week,
Read more on cointelegraph.comAbout this in other media
New theory suggests China’s ban on Bitcoin was motivated by something else ambcrypto.com /2 years ago
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Industrial Bitcoin mining breathes new life into tiny Texan town cointelegraph.com /2 years ago
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