Hundreds of thousands of Bitcoin miners have halted operations over the past two weeks, according to one of the largest mining pools in the world.

In an interview with industry website Coindesk, Mao Shixing, founder of F2pool, said that between 600,000 and 800,000 miners have shut down since mid-November, a period that has been very difficult for the original cryptocurrency, as well as for the wider crypto market. F2pool, which is the third-largest mining pool in the world, based its estimate on the total network hashrate drop and the average hash power of older mining machines that are struggling to remain profitable, Coindesk noted. The website also pointed to data from showing that from November 10 to November 24 the Bitcoin network-rsquo;s total hashrate had declined nearly 13%.


Full article