{"id":46918,"date":"2021-07-29T16:09:45","date_gmt":"2021-07-29T13:09:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46918"},"modified":"2025-09-01T18:47:49","modified_gmt":"2025-09-01T15:47:49","slug":"bitcoins-hash-rate-begins-to-recover-as-miners-migrate-from-china","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoins-hash-rate-begins-to-recover-as-miners-migrate-from-china\/","title":{"rendered":"Bitcoin&#8217;s hash rate begins to recover as miners migrate from China"},"content":{"rendered":"<p>Bitcoin&#8217;s hash rate has shown signs of recovery as some Chinese miners gradually reconnect computing power, having already shipped part of their equipment out of the PRC.<\/p>\n<p>The Bitcoin hash rate, smoothed over a 7-day moving average, has been rising since early July. In the past two weeks the metric has hovered near the 100 EH\/s level, well above the value <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-hash-rate-sinks-to-july-2019-levels\">it had at the end of last month<\/a>.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"576\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_bitcoin-mean-hash-rate-7-d-moving-average-1-1024x576.png\\\" alt=\\\"\u0425\u0435\u0448\u0440\u0435\u0439\u0442 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u043d\u0430\u0447\u0430\u043b \u0432\u043e\u0441\u0441\u0442\u0430\u043d\u0430\u0432\u043b\u0438\u0432\u0430\u0442\u044c\u0441\u044f \u043d\u0430 \u0444\u043e\u043d\u0435 \u043c\u0438\u0433\u0440\u0430\u0446\u0438\u0438 \u043c\u0430\u0439\u043d\u0435\u0440\u043e\u0432 \u0438\u0437 \u041a\u041d\u0420\\\" class=\\\"wp-image-144156\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_bitcoin-mean-hash-rate-7-d-moving-average-1-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_bitcoin-mean-hash-rate-7-d-moving-average-1-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_bitcoin-mean-hash-rate-7-d-moving-average-1-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_bitcoin-mean-hash-rate-7-d-moving-average-1-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_bitcoin-mean-hash-rate-7-d-moving-average-1.png 1800w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Bitcoin network hash rate trend. Data: <a href=\\\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;ema=0&#038;m=mining.HashRateMean&#038;mAvg=7&#038;mMedian=0&#038;s=1611829260&#038;u=1627554060&#038;zoom=182\\\">glassnode<\/a>.<\/figcaption><\/figure>\n<p>As of writing, Bitcoin&#8217;s hash rate stood at 108 EH\/s, according to <a href=\\\"https:\/\/bitinfocharts.com\/ru\/comparison\/bitcoin-hashrate.html#3m\\\">BitInfoCharts<\/a>.<\/p>\n<p>In July mining difficulty for digital gold <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-mining-difficulty-falls-by-another-4-8\">fell by 4.81% \u2014 to 13.67 T<\/a>. The next recalculation will occur in about two days. It is expected to rise by 4.47% \u2014 to 14.28 T.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"585\\\" height=\\\"261\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/btc-difficult.png\\\" alt=\\\"\u0425\u0435\u0448\u0440\u0435\u0439\u0442 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u043d\u0430\u0447\u0430\u043b \u0432\u043e\u0441\u0441\u0442\u0430\u043d\u0430\u0432\u043b\u0438\u0432\u0430\u0442\u044c\u0441\u044f \u043d\u0430 \u0444\u043e\u043d\u0435 \u043c\u0438\u0433\u0440\u0430\u0446\u0438\u0438 \u043c\u0430\u0439\u043d\u0435\u0440\u043e\u0432 \u0438\u0437 \u041a\u041d\u0420\\\" class=\\\"wp-image-144157\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/btc-difficult.png 585w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-difficult-300x134.png 300w\\\" sizes=\\\"auto, (max-width: 585px) 100vw, 585px\\\" \/><figcaption>Data: <a href=\\\"https:\/\/explorer.btc.com\/\\\">BTC.com<\/a>.<br \/><\/figcaption><\/figure>\n<p>Earlier, Bitfury Group estimated that after the de facto ban on cryptocurrencies in China, miners had shut down equipment with a combined hash rate of 90 EH\/s. The company estimated that the relocation of the devices would be completed in Q2 2022.<\/p>\n<p>Although China&#8217;s crackdown targeted primarily Bitcoin mining, rolling blackouts have also affected Ethereum miners. At the end of June, a month after reaching an all-time high, <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-hash-rate-falls-20-amid-chinese-miner-outages\">the hash rate of the second cryptocurrency fell by 20%<\/a> \u2014 below 500 TH\/s.<\/p>\n<p>In July the metric began to recover. After hitting a local low, its 7-day moving average chart has followed an upward trend. At the time of writing the network&#8217;s average hash rate stands at 526 TH\/s, according to <a href=\\\"https:\/\/explorer.btc.com\/eth\\\">BTC.com<\/a>.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"576\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-mean-hash-rate-7-d-moving-average-1024x576.png\\\" alt=\\\"\u0425\u0435\u0448\u0440\u0435\u0439\u0442 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u043d\u0430\u0447\u0430\u043b \u0432\u043e\u0441\u0441\u0442\u0430\u043d\u0430\u0432\u043b\u0438\u0432\u0430\u0442\u044c\u0441\u044f \u043d\u0430 \u0444\u043e\u043d\u0435 \u043c\u0438\u0433\u0440\u0430\u0446\u0438\u0438 \u043c\u0430\u0439\u043d\u0435\u0440\u043e\u0432 \u0438\u0437 \u041a\u041d\u0420\\\" class=\\\"wp-image-144158\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-mean-hash-rate-7-d-moving-average-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-mean-hash-rate-7-d-moving-average-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-mean-hash-rate-7-d-moving-average-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-mean-hash-rate-7-d-moving-average-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-mean-hash-rate-7-d-moving-average.png 1800w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Ethereum network hash rate trend. Data: <a href=\\\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=Miners&#038;ema=0&#038;m=mining.HashRateMean&#038;mAvg=7&#038;mMedian=0&#038;s=1611833964&#038;u=1627558764&#038;zoom=182\\\">glassnode<\/a>.<\/figcaption><\/figure>\n<p>The recovery of the hash rate suggests that at least some Chinese miners have successfully moved and connected their equipment.<\/p>\n<p>BIT Mining Limited announced the signing of <a href=\"https:\/\/u1f987.com\/en\/news\/bit-mining-limited-to-deploy-2500-bitcoin-miners-to-kazakhstan\">an agreement to purchase 2,500 Bitcoin miners for $6.6 million<\/a>, which will lift capacity by 165 PH\/s. The purchased equipment will be shipped to Kazakhstan.<\/p>\n<p>The company has also begun Ethereum mining outside Mainland China with a hash rate exceeding 86 GH\/s.<\/p>\n<p>In a conversation with <a href=\\\"https:\/\/www.theblockcrypto.com\/post\/112901\/bitcoin-ethereum-hashrate-recovery-chinese-miners\\\">The Block<\/a>, BitRiver CEO Igor Runets noted that with the onset of blackouts in China the company signed contracts with Chinese clients to provide 150 MW of capacity.<\/p>\n<p>In its Q2 2021 financial report, Bit Digital stated that in the previous three months <a href=\"https:\/\/u1f987.com\/en\/news\/nasdaq-listed-bit-digital-mined-562-9-btc-in-the-second-quarter\">it shipped 14,500 ASIC miners to the United States<\/a>. At that time, more than 20% of its devices were already based in the United States, and a further 44.6% were in transit or awaiting installation.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 news on cryptocurrencies, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s hash rate has shown signs of recovery as some Chinese miners gradually reconnect computing power, having already shipped part of their equipment outside the PRC.<\/p>\n","protected":false},"author":1,"featured_media":46919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137,46],"class_list":["post-46918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46918"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46918\/revisions"}],"predecessor-version":[{"id":46920,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46918\/revisions\/46920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46919"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}