Mining operations that process SHA-256 coins like BTC and BCH saw revenues slashed due to the bear market lows at the end of 2018. Revenues continued to fall into the new year, but over the last few weeks, network hashrates have been climbing again. A report published on March 4 details that even though mining profits dropped to a 19-month low in February, gross margins still grew by 39 percent.
Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin
The Silver Lining
Cryptocurrency mining is a competitive industry and miners who process the SHA-256 consensus algorithm (BCH and BTC) have seen some deep losses in recent months. Despite the falling price last August, Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks’ combined hashrate surpassed 65 exahash per second (EH/s). On Dec. 2, 2018, BCH and BTC hashrates averaged less than 32 EH/s, losing half of their processing power from their all-time high. Since then, combined hashrate is now averaging roughly 45 EH/s with BCH capturing 1.25 EH/s of…