Bitcoin price has made a strong recovery over the last week or so, nearly doubling in value from the lows it set during the extreme, panic-induced selloff earlier this month.
And as price has made a recovery, Bitcoin miners have begun returning to the market, turning back on their rigs, as can be seen by an increase in hash rate.
Hash Rate Recovers After Deadly Panic-Induced Selloff
Bitcoin is a unique financial asset in the fact that it represents an entire decentralized blockchain network.
It’s this network that gives Bitcoin much of its value, and it is sustained by a process called proof-of-work. Miners solve complex mathematical equations to prove work was completed, unlocking a reward of BTC for their efforts and upfront production costs. Read More...