Ethereum Hashrate Dropped By 25%

Ethereum's total hashrate plummeted last month, with the largest drop in the past two weeks. The hashrate of the network tended to rise before peaking at around 643 TH/s on May 20, according to data from Etherscan.io.

In May, the hashrate of the Ethereum network remained unchanged for two weeks. However, a sharp decline was observed after June 9, when the Xinjiang government ordered the cut off the supply of energy to miners. This was followed by the government in Sichuan and issued a similar order on June 18, which resulted in the majority of miners in the two largest mining regions ceasing operations.

Currently, the hashrate of the Ethereum network has dropped below 500 TH/s. The computing power of the Sparkpool, formerly the largest mining pool for Ethereum, fell from 150 TH/s to 85 TH/s.

Image: Cryptonaute