Chinese mining giant Bitmain has noted a considerable drop in hashrate in the past 30 days, Cointelegraph writes. According to the latest hashrate disclosure update, the SHA256 hashing algorithm, used to mine bitcoin, is now down to 237.29 PH/s. In March, however, it was 1,692.35 PH/s. The company’s hashing power has been consequently falling for the last six months.
In March, Bitmain announced it is planning to launch new flagship products by the end of the year. The company is preparing for the next bitcoin halving, which is going to happen in May 2020.