Bitmain’s Hashrate Noticeably Dropped in Past 30 Days

Chinese cryptocurrency mining giant Bitmain’s hashrate has noticeably dropped in the past 30 days, according to the company’s hashrate disclosure update as of May 7.

Per the data analyzing the hashrate of all Bitmain-owned hardware, updated once every 30 days, the SHA256 hashing algorithm — which is used in the bitcoin (BTC) mining network — has dropped from 1,692.35 quadrillion hashes per second (PH/s) in March to 237.29 PH/s as of the beginning of May.

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