Hash Rate Of Bitmain Has Significantly Declined Over The Last Month
Over the past 30 days, the hashrate of the Chinese mining giant Bitmain has declined markedly, which follows from the company's disclosure report of May 7. According to a hashrate analysis of all Bitmain-owned equipment, the SHA256 hashing algorithm used in the Bitcoin network fell from 1,692.35 quadrillion hashes per second (PH/s) in March to 237.29 PH/s by early May.
“Bitmain is now betting that its next flagship product scheduled to be released by the end of this year will turn out to be a winner in the mining gear market, capturing an expected rally,”
— an unnamed source close to Bitmain reportedly said. In May 2020, the reward size will decrease from 12.5 BTC to 6.25 BTC per block. In line with previous patterns, some predict a bitcoin price surge ahead of the halving — possibly beginning around June 2019.
Image courtesy of Anycoin.news
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