Two months after the network's halving event, it's harder than ever to mine bitcoin.
While bitcoin is fast reversing its pre-halving price drop, hash-rate data suggests miners are still leaving the network.
Although China remains the leading region for bitcoin mining, the coronavirus downturn is changing the picture in other geographies.
Bitcoin's hash rate reached record highs this week, amid rising prices and anticipation of the miner reward halving later this year.
For all of bitcoin’s promise of being the world’s first decentralized, peer-to-peer cryptocurrency, 65 percent of the total hash power resides in China, according to a recent report by CoinShares Research.