Bitcoin’s hash rate is hovering around all-time highs, but many miners are still struggling to recover from regulatory changes in regions that became major hubs for the industry.

During the summer of 2021, China’s bitcoin mining ban catalyzed a 50% drop in hash rate in the span of barely two months. But on February 15, Bitcoin’s hash rate topped 210 exahashes (EH) for the first time ever. This record amount of computing power dedicated to securing the network marks a roughly 30% increase from Bitcoin’s hash rate peak in 2021, before China banned mining.

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