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Bitcoin Hashrate Stabilizes After China Crackdown
The Bitcoin hashrate has stabilized after falling for 10 straight days, and industry experts are speculating that the worst fallout from China’s recent mining crackdown might be over. Bitcoin’s seven-day average hashrate stood at 90.6 EH/s on Tuesday, up slightly from 90.5 EH/s on Monday. The number is still down by roughly half from the peak rate reached in mid-May, according to data from Glassnode. The majority of the reduction stemmed from China’s move to shut down cryptocurrency mining operations in the country, with a little bit from Iran, according to Sam Doctor, chief strategy officer at BitOoda, a ... (full story)