In the wake of the Bitcoin halving, the hash rate of the network dropped dramatically.<\/p>\n

Due to an effective 50% decrease in profitability, around 30% of the machines mining BTC went offline from peak to the bottom of the trough, slowing transactions down and causing an increase in transaction fees.<\/p>\n

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“The CMBI Bitcoin Hash Rate Index demonstrates that hash rate has now largely recovered to its pre-halving levels.”<\/span><\/div>\n<\/blockquote>\n<\/div>\n
$\"Bitcoin$ <\/p>\n
It is unclear if the uptrend that Bitcoin’s hash rate has found itself in since the halving will continue though, with there being news that a large mining farm in China has recently had to shut down due to a large fire.<\/p>\n
Chinese Bitcoin Mine Burns Down: Reports<\/strong><\/h2>\nAccording to BlockBeats,<\/a> a “sharp observer” of China’s cryptocurrency scene, a Chinese Bitcoin mine with “thousands of machines” was destroyed by a raging fire “this Friday night.” The media firm explained:<\/p>\n
“This Friday night, a fire occurred in a large Bitcoin mine in Yunnan, China, causing thousands of bitcoin mining machines to be destroyed. The local police were investigating.”<\/p><\/blockquote>\n
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Breaking: This Friday night, a fire occurred in a large #Bitcoin<\/a> mine in Yunnan, China, causing thousands of bitcoin mining machines to be destroyed. The local police were investigating. pic.twitter.com\/t33UrVEjmF<\/a><\/p>\n
— BlockBeats\uff5cWe're hiring! (@BlockBeatsAsia) June 14, 2020<\/a><\/p><\/blockquote>\n