Bitcoin (BTC) network hashrate hit a new all-time high of 207.53 million tera hashes per second (TH/s) on Monday as the Bitcoin network turned 13. On this day in 2009, the pseudo-anonymous creator Satoshi Nakamoto mined the genesis block of Bitcoin and started a financial revolution that is standing tall today.
The new ATH hashrate comes just within six months of the Chinese miner exodus that started in May this year. China contributed more than 60% of the Bitcoin network’s mining hashpower, but in May the Beijing government started a countrywide crackdown on all types of crypto mining resulting in major Bitcoin mining farms shutting their operations and relocating to other crypto-mining compliant nations such as the United States, Russia, and Kazakhstan.
The following mining heat map represents China’s mining share in April and July that shows the drastic decline to zero post-mining ban.
China’s share in the Bitcoin network fell from over 60% to zero by the end of July. Howeve
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