Bitmain reduced the amount of capacity for mining Bitcoin by 88%

The leading manufacturer of mining equipment Bitmain in the past 30 days has reduced the amount of computing power for bitcoin mining by 88%. This is evidenced by data reporting , which the company publishes monthly.

Thus, as of May 7, the total hashrate of the equipment used by Bitmain for the extraction of cryptocurrencies using the SHA-256 algorithm (Bitcoin and Bitcoin Cash) is 237.29 PH / s.

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 hardware hashrate at SHA-256 was 1692 PH / s.

By October 2018, the hash rate had risen to 2339 PH / s, but by March it had already dropped 1700 PH / s. Against this background, the share of Bitmain's computational power in the total bitcoin hashrate decreased from 4% to 0.4%. The publication CoinDesk notes that against the background of a fall in the price of the first cryptocurrency and a significant reduction in the profitability of production, Bitmain could turn off more than 130,000 Antminer S9 devices.

After the April recovery in the price of Bitcoin, the amount of computing power 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.

Earlier, BlockchainJournal reported that Bitmain intends to place 200,000 miners in the southeastern provinces of China.

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