Bitcoin Hash rate up despite price drop

Despite the falling Bitcoin prices, the hash rate for Bitcoin mining has increased 150% since the beginning of this year meaning that miners are still very optimistic and Bullish on Cryptocurrency growth. This signals that there is still demand for Bitcoin as a whole and lots of future growth potential in the market and even if the Electricity costs of mining outweigh the benefits at current prices, they are betting that in the future, the mining operations can net them a lot of profit.

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