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Bitcoin hashrate dropped by 25% in 24 hours

Over the past 24 hours, the average hash rate of the bitcoin network has dropped by 25%, according to BitinfoCharts. At 15:20 Moscow time, the indicator is 122 Eh / s. Over the past day, bitcoin has risen in price by 12% and reached a 6-day high at around $ 38.4 thousand, writes RBC Crypto.

The hash rate decline began in mid-May after the Chinese authorities called for stricter regulation of mining and crypto trading. Two large cryptocurrency mining companies have already left China – BTC.TOP and HashCow. The Huobi crypto exchange has stopped serving customers from mainland China. And the Bybit exchange will stop working with Chinese citizens from June 15th.

At the end of last month, mining was completely banned in Iran due to the peak season of the load on the electrical networks. Several large cities have already experienced power outages amid rising electricity consumption and droughts that are keeping hydroelectric plants under-operating.

In June, the President of El Salvador instructed the state energy company LaGeo to start mining bitcoins using “cheap, 100% clean and renewable energy from volcanoes.” LaGeo operates two geothermal power plants. On June 9, the country’s parliament recognized bitcoin as an official means of payment on a par with the US dollar.

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