The hashrate of the first cryptocurrency network dropped to 82.28 EH / s. Since March 12, when the price of bitcoin fell to below $ 5000, the total computing power has lost about 34%.
Data: Blockchain.com
A similar indicator of Ethereum at the same time remains relatively stable since the end of February, although quotes of the second cryptocurrency also collapsed last week along with the entire market.
Analysts explained the decrease in Bitcoin hashrateminers shutting down equipment of previous generations - after the price dropped, it began to generate losses. According to CoinShares, «in the red» ASICs turned out to provide a third of the network’s computing power.
The Ethereum hashrate in this situation remains at around 185-170 GH / s, although mining profitability has also fallen.
Data: Etherscan.io
According to Trustnodes, it is possible that Ethereum minersremain «in the black» and at current prices. Another explanation: they compensate for losses by mining the remaining profitable coins, which can be mined using graphics cards (GPUs).
Today, March 19, the price of the first cryptocurrency returned to levels above $ 6,000. This makes mining bitcoin more profitable and you can expect at least a cessation of the decline in hashrate.
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