On-chain data shows the Bitcoin Hashrate has seen a setback recently, a potential indication that miners may not believe the asset’s run would last. Bitcoin Mining Hashrate Has Declined Since Its All-Time High The “Hashrate” refers to a metric that keeps track of the miners’ total computing power currently attached to the Bitcoin network. This indicator’s value is measured in terms of hashes per second (H/s) or the larger and more practical, terahashes per second (TH/s). Related Reading: Is $135,000 Bitcoin’s Current Ceiling? This Model Says So When the value of this metric registers an increase, it means new miners are joining the network, and old ones are expanding their farms. Such a trend implies that blockchain is a lucrative opportunity for these chain validators. On the other hand, the declining indicator suggests some miners have decided to disconnect their rigs from the network, potentially because they can’t break even anymore. Now, here is a chart that shows the trend in the 7-day average of the Bitcoin Mining Hashrate over the past year: ..
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