The week before the Bitcoin Halving event scheduled for May 12 has proven to be rather eventful with new milestones reached every other day. While Bitcoin (BTC) began this week slightly under $9,000, prices have shot upwards to test the $9,300 level on May 6, which helped to push Bitcoin’s market cap to above $170 billion. At the time of writing, BTC is currently trading at $9,220, but as the days to the halving approach, we can expect to see greater upward pressure on prices in the next few days.
With the sharp rise in Bitcoin mining activity in the last few days as miners globally accelerate their mining operations, the Cambridge Centre for Alternative Finance introduced the Bitcoin Mining Map, which shows viewers from where in the world Bitcoin hash rates are being generated from. The map also displays the average monthly hash rates differentiated by geographical locations for Bitcoin mining activity dating as far back as September last year. An individual map of China’s mining hash rates is also available on the site to provide more data into the mining powerhouse’s operations.
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