The amount of computing power used to mine the main cryptocurrency continues to fall after the tighter regulation of the digital asset industry in China
The hashrate of the Bitcoin network fell to its lowest level since November last year.
According to the BitInfoCharts service, on June 20, the hash rate of the main cryptocurrency dropped to 91 Eh / s. On June 21, the hashrate of the Bitcoin is 104 Eh / s. The amount of computing power for Bitcoin mining continues to decline after reaching a peak (171 Eh / s) in mid-May.
The drop in the hashrate of the main cryptocurrency network began after calls from the Chinese authorities to tighten regulation of mining and crypto trading.
Two large cryptocurrency mining companies have already left China – BTC.TOP and HashCow.
The crypto exchanges Huobi and Bybit stopped serving customers from mainland China.
A ban on the mining of cryptocurrency has already been introduced in four Chinese provinces: Sichuan , Yunnan , Qinghai and Xinjiang .
At the end of May, mining was completely banned in Iran due to the peak season of the load on the electrical networks.
Several large cities have already experienced power outages amid rising electricity consumption and droughts, which are causing hydroelectric power plants to not operate at full capacity.
