Actually, the hashrate has already began to come back down since reaching an all-time excessive in March. As of June 17, it’s decrease by 10% to 589 EH/s, in keeping with Hashrate Index knowledge. Since most miners are situated within the U.S., notably in steamy Texas, firms in North America shutting down their operations will probably make a dent within the hashrate development. “According to data from the University of Cambridge, roughly 37% of all Bitcoin mining takes place in the United States,” mentioned Blockware. “As summer continues heating up, it’s reasonable to expect US-based miners to have heat-induced curtailments.”
