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Bitcoin Miner Death Spiral Cancelled as Hash Rate Sets New All Time High

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Samuel Wan

Following the Bitcoin halving, concerns over miner capitulation have proven unfounded. The week just gone saw the network hash rate reach a new all-time high of 125 million TH/s.

Source: blockchain.com

Significant pullbacks occurred in March and May, sparking fears of the beginning of a miner’s exodus. Current data shows the Bitcoin network is strong as ever.

Bitcoin Hash Rate Recovers From Early Year Wobbles

Despite Bitcoin’s range-bound performance of late, the network hash rate continues to show strength. This is indicative of high confidence from miners.

However, at around the time of the halving, some industry executives ...

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