Bitcoin Hashrate (BTC) Print New ATH. That’s why it’s important
- It’s official: Bitcoin rejects mining ban in China
- Did China Really Stop Bitcoin Mining?
The net hash rate of the Bitcoin (BTC) network, i.e. the total number of hashes computed by all active miners on the network, is what ATH reprints – but this one is exceptional.
It’s official: Bitcoin rejects mining ban in China
Yesterday, December 10th, 2021, the Bitcoin (BTC) network registered an unexpected increase in its net hash rate. For the first time in Bitcoin (BTC) history, the index exceeded 181 EH / s.
In short, it reaches 190 EH / s. As a result, it surpassed the values registered on the eve of the crypto mining ban in China, which ended its supremacy in the field in May 2021.
In early July 2021, the Bitcoin (BTC) hashrate hit a multi-month low of 84 EH / s. It took the leading cryptocurrency five months to fully recover from the deadliest attack in its history.
As mentioned by U.Today, China took some aggressive anti-Bitcoin measures in 2021. After Bitcoin (BTC) mining was banned, it made all crypto-related transactions illegal and prevented banks from interacting with them.
Did China Really Stop Bitcoin Mining?
The majority of miners and some crypto-focused companies have moved abroad; The USA, Kazakhstan, Mongolia and the Russian Federation are the top destinations.
However, the US has attracted the majority of the “refugees” while other countries lag behind with clear regulatory frameworks for the Bitcoin (BTC) mining business.
Even in China, some miners continue to work in secret. In addition, China recently officially certified VeChain, a blockchain-based product for real-world use.
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