equipment used in mining indicating the strength hThe ash rate is approaching an all-time high in bitcoin.
According to On-chain data from Glassnode, on December 8, the hash rate is 4% away from the all-time high of 180 EH/s reached in May. It is stated that the current level of the hash rate, which is 172 EH / s, is 93% more than the recent low of 89 EH / s in June.
The bitcoin hash rate had dropped by as much as 65% at the end of June as China increased regulations on mining. Bitcoin miners migrated from China to regions with more flexible rules, and thus hash rate almost back to their previous levels.
According to Cambridge University’s latest updated bitcoin mining map in August, China no longer has an impact on the global bitcoin hash rate. The United States is the leader in terms of hash rate, with 35.4% of total bitcoin mining according to the map.
Kazakhstan ranks second with 18.1%. However, since the map was updated in August, the effects of the last electricity crisis are not present. Therefore, it is estimated that the current rate may be lower. Russia has the highest hash rate with 11.23% third in country location.