Bitcoin Hashrate Approaches Full Recovery From China Crackdown

Bitcoin Hashrate Approaches Full Recovery From China Crackdown
The bitcoin hashrate, a measure of computing power on the network, has almost completely recovered to its level in May, when Chinese authorities started a crackdown on the industry.At the time, China was the biggest bitcoin miner in the world, accounting for 71% of the global hashrate, according to the Bitcoin Mining Electricity Index compiled by the University of Cambridge’s Centre for Alternative Finance.From May to June, the global hashrate roughly halved, data from mining pool BTC.com shows, as Chinese miners went dark en masse to comply with government orders. Since then it’s been increasing steadily as they set up…