Bitcoin Mining Difficulty Drops 16% Due To Reduced Power Of Chinese Farms

As a result of the overnight correction of the difficulty of the bitcoin network, it decreased from 25.05 to 21.05 trillion. The decline is due to the decline in hash rates due to interruptions in the work of Chinese mining farms.

The decline in total computing power began on May 16, when authorities in China's Sichuan province ordered local businesses to temporarily limit electricity consumption due to low electricity production by local hydroelectric power plants.The reason for all this was the delay in the rainy season, and not the Chinese government's announcement of tightening control over thecryptoindustry.

Miners were expecting a drop in complexity, as moreUntil May 21, the bitcoin hash rate dropped to 147 Eh / s, and the average block closing time increased to 11.8 minutes, instead of the standard 10. Since then, the hash rate has risen slightly, to 149.5 Eh / s.

Miners are currently expecting likeThe Sichuan government will respond to an appeal by the State Council of the People's Republic of China to suppress cryptocurrency mining activities due to its negative impact on the environment.

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