Bitcoin Hashrate Posts Steepest Three-Year Drop Amid Global Pressures

Bitcoin’s hashrate saw its most dramatic fall of the last three years between June 15 and Tuesday, according to Blockchain.com data.

Bitcoin’s hashrate decreased from nearly 943.6 billion terahashes per second (TH/s) on June 15 to 799.9 TH/s on Tuesday, a decline of more than 15%.

The sharp drop has fueled speculation about possible geopolitical and environmental causes.

While the reason behind the sudden downturn is not yet confirmed, many in the cryptocurrency community are pointing to Iran…