The leading manufacturer of mining equipment Bitmain in the past 30 days has reduced the hashrate of bitcoin mining by 88%. This is evidenced by data reporting, which the company publishes monthly.
As of May 7, the total hashrate of the equipment used by Bitmain for mining cryptocurrencies on the SHA-256 algorithm (Bitcoin and Bitcoin Cash) is 237.29 PH/s.
Bitmain's Hashrate on Different Algorithms
At the same time, just a month ago, the volume of the respective capacities was 2072 PH/s.
Based in Beijing, Bitmain not only manufactures equipment that is popular among miners, but also mines cryptocurrency using its own resources. The company began to publish reports on the available mining facilities in July last year. At that time, the hashrate of SHA-256 equipment was 1692 PH/s.
By October 2018, the hashrate had risen to 2339 PH/s, but by March it had already dropped to 1700 PH/s. Against this background, the share of Bitmain's computational power in the total bitcoin hashrate decreased from 4% to 0.4%.
After the April BTC price recovery, the amount of computing power of Bitmain began to grow again. At the same time, the total hashrate of the first cryptocurrency network, which has updated the six-month maximum by the beginning of May, began to recover with confidence.