Bitcoin Hashrate Slams Down After New ATH As Price Continues Struggle
Data shows the Bitcoin mining hashrate has already plunged down since the new all-time high as the crypto’s price has continued to struggle. The “mining hashrate” is an indicator that measures the total amount of computing power connected to the BTC network.
When the value of this metric rises, it means more mining rigs are coming online right now. Such a trend may suggest that miners are finding the network attractive currently.On the other hand, a decline of the indicator suggests that some miners are taking their machines off the network, perhaps because of low profitability. Usually, high values of the hashrate result in better performance of the blockchain, while low ones may lead to transactions being handled slower.
Source
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