The Bitcoin mining hash rate declined by over 26% in the last 30 days as miners grapple with falling prices across the board.
Hashrate is the computational power required to mine and process transactions on Bitcoin’s network.
After 1,600 blocks, the DAA may reduce by another 0.13%.
Mining revenue has taken a huge hit due to the record market crash.
According to data from Blockchain.com, Bitcoin’s mining revenue has dropped by over 79% in the last nine months, hitting as low as $15 million on July 4.
Per available information, GPU prices declined by 15% in May. This falling price has given small-time miners an opportunity to procure extra mining equipment, and coupled with the falling hash rate, they now stand a chance to mine BTC.