Bitcoin (BTC) mining activity rose close to its peak levels, reaching 54 EH/s, near the record of 60 EH/s. One of the reasons for the rising activity may be the rainy season picking up in China, offering cheaper hydroelectric power. The spike, however, was short-lived, and later mining activity returned to 42 EH/s.
The Bitcoin mining activity may also slow down in the coming days, to ensure a more favorable difficulty readjustment. In the past quarter, BTC mining has been volatile, rising to peaks and crashing again, possibly to affect difficul...