The truth is, the hashrate has already began to return down since reaching an all-time excessive in March. As of June 17, it’s decrease by 10% to 589 EH/s, based on Hashrate Index information. Since most miners are positioned within the U.S., significantly in steamy Texas, corporations in North America shutting down their operations will doubtless make a dent within the hashrate development. “In accordance with information from the College of Cambridge, roughly 37% of all Bitcoin mining takes place in the US,” mentioned Blockware. “As summer season continues heating up, it’s cheap to anticipate US-based miners to have heat-induced curtailments.”
