The Bitcoin Network (BTC) retail strength has jumped nearly 30% in the past 24 hours, which, if it continues, suggests a major hardship adjustment may soon.

According to Coinwarz, Bitcoin’s hash rate is currently at 157.5 overshooting per second, or EH / s, after increasing to 160 EH / s. At the time of writing, BTC’s hash strength increased 42% in 2 days.

The peak came after a sharp drop in hemp energy in late October, which many analysts attribute to the end of the rainy season at the Chinese mining center in Sichuan.

It is estimated that the province’s rich and cheap hydroelectricity attracts around 80% of Chinese miners during the rainy season. In December, CoinShares estimated that Sichuan accounted for 54% of the world’s mineral production.

Jason Dean, a quantum economist, suggested that the sudden rise in bitcoin’s fragmentation strength could be a sign that many Chinese miners have completed their migration from Sichuan and have re-established operations in other domestic mining centers such as Xinjiang and Inner Mongolia.

The sudden increase in mining indicates that the network is likely to bring about another significant change in difficulty.

The driver of the rally will be fears of non-Chinese miners who saw an increase in profits after an apparent migration from Sichuan in October, leading to a negative difficulty adjustment of 16% – the second largest in Bitcoin history.

Earlier this week, Russia’s En + Group, the world’s largest producer of hydropower in the private sector, announced the launch of a cryptocurrency mining operation in cooperation with the local BitRiver.

Source: CoinTelegraph

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