Bitcoin’s hashrate hasn’t grown in five months

Bitcoin’s hashrate keeps hovering around 200 EH/s, close to the same levels observed in March – five months ago.

Bitcoin’s hashrate keeps hovering around 200 EH/s, close to the same levels observed in March – five months ago. The weak bitcoin price has disincentivized miners from expanding capacity. In addition, supply chain issues have made hashrate expansion challenging, as there is a considerable lack of data center capacity to plug in the machines.

A few months ago, most mining analysts expected the hashrate to reach around 300 EH/s by the end of the year, but it looks implausible now. The hashrate will likely end the year somewhere between 230 and 250 EH/s. The remaining growth during the year will be due to public miners like Marathon, Core Scientific, and Riot having massive expansion plans in Q3 and Q4.

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