The hashrate, one of the major profitability drivers for the crypto miners, is expected to climb closer to 185 exahashes per second in the fourth quarter, the report said. This would mark a rise of about 33% from the Oct. 7 hashrate of 139 exahashes per second, according to Glassnode.
In the fallout of China’s ban, we are witnessing an unprecedented restructuring of hashrate across the globe (with the United States being the largest beneficiary so far), as well as a surge in interest in the mining industry from newcomers and seasoned bitcoiners alike.
Hashrate has made a herculean recovery following the ban; after being cleft in half, it rose from late-June lows of 69 EH/s to 140 EH/s by the end of Q3, a 103% recovery.
View article by Coindesk and data by Hashrate Index
