Head of Research at CoinShares: The reason for the decline in Bitcoin hashrate is that "miners are starting to shut down unprofitable miners."
2024-05-14 10:06:30
After the fourth bitcoin halving, the bitcoin hash rate declined, falling to a two-month low of 575 EH/s on May 10, before recovering slightly to the current 586 EH/s. James Butterfill, head of research at CoinShares, said on the X platform that the reason for the decrease in hash rate is that "miners are starting to shut down unprofitable miners."
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