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, in line with Hashrate Index knowledge. Since most miners are situated within the U.S., significantly in steamy Texas, corporations in North America shutting down their operations will probably make a dent within the hashrate development. “Based on knowledge from the College of Cambridge, roughly 37% of all Bitcoin mining takes place in the USA,” mentioned Blockware. “As summer time continues heating up, it’s cheap to anticipate US-based miners to have heat-induced curtailments.”
