Bitcoin Hashrate Plummets, Miners Face Financial Strain

Bitcoins hashrate plummets by 8% due to China mining shutdowns, impacting network security and miner revenue. The hashrate, a measure of computational power, dropped from 1.1 zettahashes per second to 1.0 zettahashes per second. This decline coincides with the hash price hovering near $37 per petahash per second, a five-year low. The mining difficulty is set to decrease by 3%, offering temporary relief to miners.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.