CryptoQuant CEO Highlights Rising Bitcoin Hashrate Signaling Institutional Confidence in Miners

TL;DR Bitcoin’s hashrate has increased by approximately 45% since July, rising from 726 EH/s to around 1,050 EH/s. CryptoQuant CEO Ki Young Ju considers the increase in computing power an indirect bullish signal of institutional support for Bitcoin miners. NIP Group announced the acquisition of mining equipment with 4.47 EH/s of capacity, although shares of several mining companies recorded sharp declines. Bitcoin ‘s hashrate has recovered by approximately 45% from its July lows , a development that Ki Young Ju, founder and CEO of CryptoQuant, considers an indirect bullish signal of institutional investors’ support for mining companies. The network’s computing power rose from approximately 726 exahashes per second (EH/s) in July to around 1,050 EH/s , according to CryptoQuant data .

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