Bitcoin Mining: Network Congestion, Fees Uptick, China Ban, & Russian Hash Power in Play


Source: otcpm24.com otcpm24.com

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In the world of Bitcoin mining, the hash rate of the network, the computing power used to validate BTC transactions has taken a drop following the positive difficulty adjustment of 8.8%. The 7-day average hash rate of the network is currently at 131 EH/s, down from the all-time high of 146.8 EH/s, as per Blockchain.com. A decline in the hash rate resulted in a sudden jump in the total number of unconfirmed transactions in the mempool to over 91.2k today only to get back down to 43k shortly. This clogging of the network happened as the Bitcoin price broke new...