As a result of yet another recalculation mining difficulty of the first cryptocurrency rose by 7.85% — to 21.66 trillion hashes (T).
This is the eighth consecutive rise in the metric since the industry ban in China. However, it has not yet surpassed the May peak of 25.05 T.
Against the backdrop of crackdowns on mining by Chinese authorities, the difficulty fell to mid-July. At the start of the month the metric fell by a record 27.94%.
Around the same time, Bitcoin’s hash rate showed signs of recovery after a drop to the level of a year ago, but the next recalculation led to another decline in mining difficulty — by 4.8% .
With the gradual return to the network of equipment that Chinese miners had taken abroad, the hash rate began to recover.
Earlier, Bitfury Group calculated that the aggregate hash rate of Bitcoin mining devices shut down in China stood at 90 EH/s.
At the time of writing, the network-wide figure (7-day moving average, smoothed) stood at nearly 159 EH/s.
In August, the United States displaced China from the lead in Bitcoin’s share of hash rate, according to data from the Cambridge Centre for Alternative Finance.
China’s miners’ dominance had ended as early as March — before their departure from the country.
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