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Bitcoin network hashrate hits all-time high after China crypto ban

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Whinstone CEO Chad Harris takes CNBC on a tour of the largest bitcoin mine in North America.

Bitcoin mining has totally recovered from the Chinese crypto crackdown that took more than half the world’s miners offline virtually overnight earlier this year.

The recovery is measured by looking at hashrate, a term used to describe the computing power of all miners in the bitcoin network. China had long been the epicenter of this industry, with past estimates indicating that 65% to 75% of the world’s bitcoin mining happened there. But after Beijing effectively banished the country’s cryptocurrency miners in May, more than 50% of bitcoin’s hashrate dropped off the global network.

As of…



Source cnbc.com

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