{"id":11255,"date":"2018-12-11T00:00:00","date_gmt":"2018-12-11T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/12\/11\/bitcoin-btc-hash-rate-has-fallen-31-since-start-of-november-2018\/"},"modified":"2018-12-11T00:00:00","modified_gmt":"2018-12-11T00:00:00","slug":"bitcoin-btc-hash-rate-has-fallen-31-since-start-of-november-2018","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-btc-hash-rate-has-fallen-31-since-start-of-november-2018\/","title":{"rendered":"Bitcoin [BTC] Hash Rate Has Fallen 31% Since Start of November 2018"},"content":{"rendered":"
BitMEX Research has a new report out. Released December 10th, the report focuses on the Bitcoin price<\/a> <\/strong>action in the past few weeks starting November 1st and the Bitcoin hash rate in the same time period.<\/p>\n According to the report, the price of the leading cryptocurrency by market cap has fallen since the start of November by as much as 45% while the hash rate has dropped by close to one third.<\/p>\n To be precise, the report claims that the Bitcoin hash rate has dropped by 31%<\/strong>, an estimated equivalent \u201caround 1.3 million Bitmain S9 miners being switched off.\u201d<\/em> The main conclusion made by the report is that the mining industry is probably \u201cunder considerable stress right now\u201d<\/em> due mainly to the depressed cryptocurrency market.<\/p>\n In effect, the fall in prices has led to the exit of some miners whose profit margins were minimal<\/strong>. This precipitated a reduction in hashing power that has led to two significant downward adjustments in the last month alone. The first, a 7.4% adjustment was the largest since January 2013, while the most recent December adjustment of 15.1% was the largest ever downward adjustment since October 2011.<\/p>\n