According to data aggregator Blockchain.info, bitcoin network hashrate has dropped by about 14% over the past week due to the end of the monsoon season in the Chinese province of Sichuan.
During this period, every year most of the minersChina is moving its equipment to Sichuan to use cheap electricity from local hydroelectric power plants. At this time, the province is becoming one of the largest centers for the production of cryptocurrencies, which accounts for about a fifth of the world's computing power.
According to Blockchain.info, since October 18, the averagethe hash rate dropped by 13.7% from 146.5 EC / s to 126.4 EC / s.
Analysts expect the shutdown of someequipment will also lead to a decrease in the level of complexity at the end of this week by 7.4-8.8%. If these predictions are correct, then such a downturn would be the second largest decrease in difficulty, after a 16 percent pullback during the March crash.
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