In reality, the hashrate has already began to come back down since reaching an all-time excessive in March. As of June 17, it’s decrease by 10% to 589 EH/s, in response to Hashrate Index knowledge. Since most miners are situated within the U.S., notably in steamy Texas, firms in North America shutting down their operations will seemingly make a dent within the hashrate development. “Based on knowledge from the College of Cambridge, roughly 37% of all Bitcoin mining takes place in the USA,” stated Blockware. “As summer time continues heating up, it’s affordable to anticipate US-based miners to have heat-induced curtailments.”
