RATE Group | Clues to Explain Yesterday’s Bitcoin Hash Rate Flash Crash
63154
post-template-default,single,single-post,postid-63154,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Clues to Explain Yesterday’s Bitcoin Hash Rate Flash Crash

25 Sep Clues to Explain Yesterday’s Bitcoin Hash Rate Flash Crash

Posted at 13:47h in Bitcoin News by

[ad_1]

The Bitcoin (BTC) network’s hash rate suffered a mysterious flash crash on Sept. 23, in a sudden intraday plummet from 98,000,000 TH/S to 57,700,000 TH/s.

By press time, levels have recovered back to 92,800,295 TH/S— yet remain shy of their recent record of 102,848,135 on Sept. 18, as data from Blockchain.com reveals:
Bitcoin network hash rate, Oct. ‘18-present. Source: blockchain.com

Bitcoin network hash rate, Oct. ‘18-present. Source: blockchain.com

Rhyme or reason?

As reported, this sharp, sudden drop broke the network’s streak of new all-time high hash rates throughout summer 2019, sparking commentators’ speculation as to what could have triggered the crash.

One explanation has been proposed by a Cointelegraph reader signed as “Jeff Brandt,” who responded to coverage of the phenomenon with a theory that the temporary downturn in mining was connected with a move to update S9 ASIC miners from Bitmain ahead of the Bitcoin network’s forthcoming difficulty increase:

“The next diff [difficulty] increase in 2 days will push previous gen…

[ad_2]

Source link

Tags:
, , , , , , ,