Bitcoin hash rate falls 13% in one day, mining difficulty estimated to drop 10%

Bitcoin’s (BTC) hash rate fell 13% on Dec. 27 to 202.17 EH/s from around 240 EH/s recorded on Dec. 26.

It has since recovered to 234 EH/s, as of press time.

Bitcoin Hash rate

Bitcoin Hash rateSource: Glassnode

The hashrate decline is expected to lead to a 7% to 10% drop in mining difficulty.

BTC’s mining difficulty is near a record high at 35.36T. The estimated decline will see the mining difficulty drop to between 31T and 32T, according to bitrawr.

On Chrismas eve, BTC’s hash rate fell over 40% because major miners in the U.S. had shut operations due to the winter storm. While the hash rate soon recovered on Christmas day, peaking at around 247.87 EH/s, it has gradually declined since.

Posted In: Mining

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