China FUD Over Bitcoin Mining Is ‘Now Moot,’ Luxor Report Says

Posted on by American Coins & Gold

China FUD Over Bitcoin Mining Is ‘Now Moot,’ Luxor Report Says
The ”Fear, Uncertainty and Doubt” or FUD about China controlling the cryptocurrency is “now moot” as Bitcoin’s hashrate is expected to reach near all-time highs, according to a new report by Luxor Technologies.The hashrate, one of the major profitability drivers for the crypto miners, is expected to climb closer to 185 exahashes per second in the fourth quarter, the report said. This would mark a rise of about 33% from the Oct. 7 hashrate of 139 exahashes per second, according to Glassnode.The hashrate measures the total computational power dedicated to the Bitcoin blockchain to secure new data blocks on the…