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.

If we compare the data with Bitmain’s stats in last year, the decline trend will be even more noticeable: in July 2018, the SHA256 hash rate at Bitmain was 1,692.05 PH/s, and in October it increased to 2,339.21 PH/s. The two mining pools managed by Bitmain, Antpool and BTC.com provided almost 23% of the total hash power of the entire mining pool of bitcoins in January 2019. However, in June 2018, they represented 41% of the whole market, which means that their share is steadily declining.

“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