BITMAIN REDUCED COMPUTING POWER BY 88%.

The Chinese mining giant Bitmain has reduced its computing power by almost 88%. According to the company, when mining cryptocurrency using the SHA256 algorithm, the hashrate was 237.29 PH/s. At the same time, in April this figure reached 2.072 PH/s, and in March, 1.700 PH/s. It also became known that the share of the Beijing-based company in the total hash rate of the Bitcoin network dropped tenfold – from 4% to 0.4%.

The experts have suggested that the company could withdraw 130,000 units of AntMiner S9 from the mining business. Bitmain representatives themselves have not yet commented on the hashrate reduction.

The corporation published the first report on the existing mining capacities in July last year. Then the hardware hashrate on SHA-256 was 1692 PH/s. In early March of this year, researchers at the ChainDD portal stated that almost 74.5% of the Bitcoin network hashrets control the mining pools included in the Bitmain structure.

In late April, it became known that the corporation launched the sales of ASIC-miner Antminer T17. The device is intended for the extraction of Bitcoin and Bitcoin Cash crypto asset. The model is equipped with a new generation chip.