The hashrate on the Bitcoin network reached 160 TH/s. This is probably caused by the return of Chinese crypto miners to the mining operations.
The processing power on the network of the first cryptocurrency has grown by over 30% in just two days. On November 9, the figure was 110 TH/s, as reported by the coinwarz.com service. Then the hash rate rapidly rose above 160 TH/s, before dropping again to 145 TH/s.
Analyst Jason Dean suggested that the hashrate recovery was caused by the return of Chinese miners. In late October, they shut down their equipment due to the end of the rainy season in the Sichuan province of China and transported it to Chinese provinces with cheaper electricity or other regions, such as Russia`s Siberia. Perhaps the transfer of equipment is now over, and the devices are back to work.
After the disconnection of devices by Chinese miners at the end of October, the hash rate of the Bitcoin network dropped by almost 30%. Meanwhile, the complexity of mining cryptocurrency fell. On November 3, because of the next recalculation, this indicator decreased by 16.04%, to 16.77 trillion hashes.
