Please don’t skip this message — it only takes a minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent, ‘bitcoin-only’ media is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 is all we ask for. To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. All of our writers have an active tipping widget.
  • Join our campaign on 
    Awesome perks are waiting for you such as the limited edition Bukele Blend Coffee from El Salvador.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.


Bitcoin Hash Rate Dips to 80 EH/s After Block Halving, Signaling Mining Paradigm Shift

bitcoin hash rate

Support free writers: > send a tip

written by

  • Roughly 40-50 EH/s of Bitcoin mining equipment has shut down following the block halving

Crypto investors and speculators were enthusiastic when the Bitcoin block halving happened on 12 May 2020, since block halvings usually lead to major Bitcoin rallies. However, the mining sector of the crypto space was probably watching the block halving with anxiety and dread since Bitcoin price trends were not in their favor.

Essentially, when the block halving happened the block reward dropped from 12.5 Bitcoins to 6.25 Bitcoins, reducing mining revenue by 50% in terms of Bitcoin. In order for miners to survive such a blow unscathed, the USD value of Bitcoin would have had to double.

Unfortunately for miners, the price of Bitcoin stagnated between USD 8,000 to USD 10,000 instead of doubling, and therefore when the halving happened Bitcoin mining revenue collapsed by 50% or more. This wiped out profitability for a large fraction of mining farms in the world.

Indeed, the Bitcoin hash rate has dropped from a record high of 136 EH/s right before the halving to as low as 81 EH/s right after the halving. Since then the hash rate has been hovering between 80-100 EH/s.

This means that 40-50 EH/s of mining equipment had to be turned off after the halving due to lack of profitability, which is roughly 1/3rd of all of the mining rigs in the world.

Ultimately, this crash in hash rate is actually part of a paradigm shift. Basically, only giant corporate mining farms with access to subsidized power or their own power plants will be able to compete and be profitable in the mining sector, whereas almost all small to medium-sized mining farms owned by individuals have likely been wiped out. Certainly, the era of running a Bitcoin mining farm at home is over. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


bitcoin shop miami

Read More Bitcoin News

Hayek And Bitcoin

Hayek and Bitcoin

Hayek passed long before Bitcoin’s inception, but in his book The Denationalisation of Money, he argued for nothing short of stripping the state of its monopoly power of money itself.

Read More »


bitcoin shop miami

Join our Newsletter

Video of the Week


Latest on Bitcoin News

Join our Newsletter