Annual Hash Rate Change
Bitcoin hash rate was in a strong growing trend during 2019 and updated all-time-high several times. And despite the correction of the price, it continues to hold at a high rate.
This year more energy-efficient mining capacities have entered the market. In the USA, China and Russia new large mining capacities were launched. However, the share of China in mining continued to grow.
One of the worst results among the large coins was shown by Litecoin, whose hash rate began to fall sharply after halving.
Please note that the hash rate isn’t a form of price indicator, because, for a price to increase, there needs to be a new buying power and demand.
But the growing hash rate suggests that there have been significant investments in this sector and that miners are confident in the future of Bitcoin.
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