The strength and hash rate that secures the world’s largest blockchain network is on a slow recovery path, as some Chinese miners have gradually completed relocating and reinstalling their equipment overseas after the Chinese anti-mining campaign.

Based on data from the “The Block” platform, the seven-day moving average of the Bitcoin hash rate has slowly risen to the level of 100 hashrates per second (EH/s) over the past three weeks.

In the wake of China’s crackdown on the bitcoin mining industry, power stations in several counties have been ordered to suspend power supplies to mining facilities.

Bitcoin’s hash rate initially dropped below 90 hashs per second, a level not seen since early 2020.

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With a slow recovery, Bitcoin mining difficulty is expected to grow by 4% on the next adjustment, after posting four consecutive declines.

Although the suspension of the initial China campaign specifically affected Bitcoin mining, the closing orders that were eventually issued locally also affected the mining farms that housed graphics cards and ASIC miners that secure the Ethereum network.

This situation prompted Ethereum miners to dump used GPUs on the second-hand market.

Similarly, Ethereum’s hash rate also took a hit of over 20% after Chinese suppression orders, but it has steadily recovered to well over 500 terahashes per second.

Reboot again:

The hash rate recovery indicates that at least some Chinese miners have completed their commute and are already in the process of connecting their equipment to the network.

For example, Shenzhen-based BIT Mining, formerly known as 500.com, had more than 50,000 ASIC bitcoin miners in Xinjiang and Qinghai as of April this year.

It also owns two mining facilities in Sichuan.

After the campaign, New York-listed BIT Mining said it would ship 3,000 units to Kazakhstan by July.

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In a statement on Wednesday, BIT Mining said it had shipped and deployed 3,819 units of bitcoin mining equipment at a total hash rate of 172 PH/s at facilities in Kazakhstan.

BIT Mining announced earlier this week that it has completely exited its lottery business to focus entirely on mining.

After the shutdown orders in China, BitRiver, a Russia-based GPS service provider, told Reuters it had signed contracts with Chinese mining clients with a capacity of 150 megawatts, which is expected to come online in batches over the next four months.

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Igor Ronets, founder and CEO of BitRiver, stated that with a global supply crunch for bitcoin mining hosting capacity, it could take much longer for the bitcoin hash rate to fully recover to the all-time high of 180 EH/s.

Meanwhile, BIT Digital, another US-listed Bitcoin miner that previously operated in China, is in the process of shipping more than 14,500 Bitcoin miners to the USA.

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