The Bitcoin mining is approaching the record pace, as the industry shrugs China's shoulders

The amount of computing power that is spent on the production of new Bitcoin units has almost increased to an all-time high, since cryptocurrency miners shift their operations to new countries after taking a passion in China.

The Bitcoin Hash rate, a measure of how difficult it is to create new coins, has increased the highest value since May according to Blockchain.com to 172 million Terahashes per second. The increase indicates that digital "miners" spend more computer resources to solve complex puzzles for which they are rewarded with newly shaped bitcoins.

miner has been moving to new regions since May when China banned the energy -intensive practice. The negative environmental impact of Bitcoin mining was an important sticking point for Bitcoin critics due to the amount of energy required to produce new coins.

According to data from the Cambridge Center for Alternative Finance, the USA today is the world's largest home for dedicated computers to shape new digital assets.

The pace of recovery signals the difficulties of the authorities in regulating the high -mobile and global cryptocurrency industry.

"The ban on mining by China has only led to a geographical shift.

The geographical restructuring has enabled mining companies in the USA and elsewhere, since the activities in new facilities in countries with cheap energy sources such as the USA, Iceland, Norway and Canada were shifted.

Bitcoin-Miner play a crucial role on the cryptoma market, since they shape new coins and ensure the safety of the underlying technology that is dependent on powerful computers that solve mathematical equations. A higher hashrate indicates that it is more difficult to disturb a crypto network.

The miners have an incentive to switch on as many machines as possible when the Bitcoin price is high, which partly explains the pace of the upswing. Bitcoin was traded at $ 50,000 on Wednesday, compared to its all-time high in May of $ 69,000, but still more than 50 percent higher than at the beginning of the year.

Despite the recovery, China's ban has sustainable effects because the production rate would be even higher without the country. Bitfury, one of the largest mining companies in the world, said that despite the recovery, the hashrats "far below what they would have been without the development of China".

Sam Doctor, Chief Strategy Officer at the specialist for digital assets Bitooda, said the forecast of 198 million

But the decommissioning of the industry in the Asian country has forced companies to use more efficient devices, which the hash rates raised.

"The majority of recovery is due to the commissioning of new generation devices, not to the shift of devices from China, where a large part of the devices was too inefficient to continue working at new locations," said Bitfury of the FT in a statement.

China's largest Bitcoin-producing provinces have restricted the mining to reduce CO2 emissions and to proceed against private cryptocurrencies, while the country works on its own official digital digital. Its hard action spread through the mining industry and the global computing power dedicated to the Bitcoin mining, halved immediately afterwards.

But the prices of cryptocurrencies have recovered steadily in autumn and the miners benefited from a lack of capacity and equipment to reduce more currency.

Last week, Digital marathon forecast, a mining company that is listed in the USA, for the mid -next year to reach a record level in mining if a newly built location for renewable energies in Texas is available for more miners. Riot Blockchain, another Bergmann noted at the Nasdaq, has also raised his Hashraten forecasts for the next year because a new facility in Colorado is online.