The global hash rate of the Bitcoin network tanked to as low as 84 exahashes per second (EH/s) at the outset of June following the Chinese authorities's crackdown on the crypto mining sector.

Co-ordinate to Blockchain.com, the global hash charge per unit has increased by 108% since June, with the Bitcoin network performing at a rolling seven-day average of 175 EH/south as of Wednesday.

The figure is roughly 3% shy of pinnacle levels of 180 EH/southward seen at the height of the previous bull cycle in May. It is a commonly held conventionalities that the trends in hash rate stand for with the price of Bitcoin (BTC), suggesting that there may be some positive toll action on the horizon despite the overall gloomy sentiments in the market at the moment.

Bitcoin's total hash charge per unit. Source: Blockchain.com

The authenticity of the global hash charge per unit ATH is hard to determine, even so, as a lot of pop platforms differ in their estimates of the history and current functioning of the Bitcoin network. According to data from BitInfoCharts, the ATH in May hit 197 EH/s before dropping to the 68 EH/s mark in June. As of Wednesday, the platform had Bitcoin's hash rate at 191 EH/s, while YCharts has the electric current performance at 186 EH/s.

Prior to the ban, China-based Bitcoin miners accounted for a whopping 70% of the global hash rate. The landscape has shifted dramatically since then, with the United States becoming the nation that accounts for the majority of Bitcoin's hash charge per unit at 42%, per estimates from the University of Cambridge's Bitcoin Electricity Consumption alphabetize.