Bitcoin hashrate drops 12% in worst drawdown since China mining ban: CryptoQuant

Bitcoin mining activity has taken its biggest hit since late 2021 after a severe winter storm in the United States forced several large mining firms to curtail operations, triggering a sharp drop in network hashrate, production and revenue. Bitcoin’s total network hashrate has fallen about 12% since November 11, marking the largest drawdown since October 2021, when the network was still recovering from China’s sweeping mining ban. (CryptoQuant) The hashrate now sits near 970 exahashes per second, its lo ...