Bitcoin hashrate drops below 100EH/s, and the hashrate of mainstream mining pools drops by more than 10%

The plunge in the crypto market has already produced a number of side effects, among which Bitcoin’s computing power has declined in recent days. According to data, on March 5, Bitcoin’s computing power reached a historical peak of 133 EH/s, but according to data provided by BitInfoCharts, the computing power of the Bitcoin network has dropped below 100 EH/s. On March 16, Bitcoin’s computing power was 99.78 EH/s.

Source: BitInfoCharts

The decline in hashrate may be the result of miners leaving the market. As previously reported by Blockchain, the price of Bitcoin has dropped significantly recently, making mining more expensive. The low price of Bitcoin has resulted in less income for miners to reduce losses. In fact, according to data provided by F2Pool, the loss of miners' income on March 12 was greater than the loss suffered in November-December 2018 when Bitcoin was worth about $3,000.

Source: F2Pool

As mining is no longer profitable, miners have been forced to shut down or leave the industry, which has led to a further drop in hashrate. Huobi Pool reportedly saw the largest drop in hashrate, about 26%, while large mining pools like F2Pool saw a 12% drop in hashrate, followed by Poolin and BTC.com, which dropped 18% and 10%, respectively.

Original link: https://eng.ambcrypto.com/bitcoin-mining-revenue-drops-with-hashrate-trouble-ahead/