Over the past 30 days, the hashrate of the Chinese mining giant Bitmain has declined markedly, which follows from the company's disclosure report of May 7. According to a hashrate analysis of all Bitmain-owned equipment, the SHA256 hashing algorithm used in the Bitcoin network fell from 1,692.35 quadrillion hashes per second (PH/s) in March to 237.29 PH/s by early May.
“Bitmain is now betting that its next flagship product scheduled to be released by the end of this year will turn out to be a winner in the mining gear market, capturing an expected rally,”
— an unnamed source close to Bitmain reportedly said. In May 2020, the reward size will decrease from 12.5 BTC to 6.25 BTC per block. In line with previous patterns, some predict a bitcoin price surge ahead of the halving — possibly beginning around June 2019.
Image courtesy of Anycoin.news