Bitcoin’s hash power migration to continue, Glassnode predicts By BTC Peers – Investing.com

hash power glassnode bitcoin migration
Middle East
  • Date: 02-Jul-2021
  • Source: Investing.com
  • Sector: Technology
  • Country: Middle East
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Bitcoin’s hash power migration to continue, Glassnode predicts By BTC Peers – Investing.com

It is no longer a secret that miners are exiting China in droves or opting to sell their mining rigs. In April 2020, the Asian nation reportedly controlled about 70 percent of Bitcoin’s hash power. However, following the recent clampdown on crypto mining by Chinese regulators, this figure is expected to fall even lower.

According to a hash-power chart published by on-chain analytics platform, Glassnode, Bitcoin’s first phase of difficulty has been overturned due to the crash in hash rate.

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