Data shows the Bitcoin mining hashrate has been on a decline recently as the difficulty is currently at all-time high levels.
Bitcoin Mining Hashrate Is Down Almost 7% From The Recent High
The “mining hashrate” is an indicator that measures the total amount of computing power currently connected to the Bitcoin network.
When the value of this metric goes up, it means miners are bringing up more rigs online at the moment.
On the other hand, declines in the indicator suggest miners are disconnecting their machines from the network, likely because of a lack of profitability.
Here is a chart that shows the trend in the 7-day average Bitcoin mining hashrate over the last six months:
The value of the metric seems to have gone down in recent days | Source: Blockchain.com
As you can see in the above graph, the Bitcoin mining hashrate hit a high just below the ATH on 13 November, but since then the metric has declined by almost 7%.
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