CryptoQuant Research Director: Bitcoin network computing power fell 7.8% in June, which is comparable to the situation after the FTX crash

Odaily News Data tracked by Coinwarz shows that on June 5, the Bitcoin network hashrate dropped from 83.6 TH/s to 79.50 TH/s, reaching March levels, a month before the April halving event. Julio Moreno, head of research at CryptoQuant, said: "The Bitcoin network hashrate dropped by 7.8% at the time, which is comparable to the situation after the FTX crash in December 2022. Miners' profitability has been hit, with daily revenue falling from $78 million before the halving to $26 million currently." Moreno added: "Since the beginning of May, as the mining difficulty has been adjusted downward, some miners have shut down their equipment to cope with the decline in profitability." (CoinDesk)