The share of public Bitcoin miners to its hashrate has grown over the past months. It stood at 17% in January, it grew to 27% in October.
On another note, several public Bitcoin miners are aggressively expanding to adapt to the Bitcoin halving that takes place next year.its Q3 2023 Bitcoin mining report. The report shed light on the different aspects of crypto mining during July-September 2023.
As per the report, Bitcoin’s seven-day average hashrate grew by 56% during the first five months of 2023. Then, during the months of June, July, and August, its hashrate fell by a modest 1.3%. In September, it suddenly increased by 12%. Ultimately, it reached an all-time high in mid-October after growing 6% so far this month.The report’s authors write they are relatively certain that it is a seasonal pattern during the summer. US-based miners curtail their mining activities during these months.
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