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GPU power for ethereum network plummets 19% in one month
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nme.comPC Gamer notes, China has been looking to stamp out cryptocurrency mining in regions with low energy costs – “such as Sichuan, Yunnan and Inner Mongolia” – due to rampant resources being consumed by crypto mining.As visible on Etherscan, hash rates on the ethereum network have fallen since May 20, just two days after China announced that payment companies and financial institutions could not provide any services related to cryptocurrency (Reuters).Due to the decreased GPU power, it was taking the bitcoin network around 14-19 minutes to solve a block, up from the usual ten minutes.
Since then, Fudzilla notes that the bitcoin code has “automatically made it about 28 percent less difficult to mine” to return block solving back to the ten.
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