#BitcoinHashRateSurge

Seasonal fluctuations in Bitcoin hashrate are usually related to the availability and cost of electricity in different regions. For example, in China, especially in Sichuan province, during the rainy season (May-October), hydroelectric power plants produce a surplus of cheap electricity, which encourages miners to increase their activity, increasing the overall hashrate of the network.

However, after the mining ban in China in 2021, many miners moved their operations to other countries, such as the United States, Kazakhstan, etc. This led to changes in seasonal fluctuations in the hashrate, as the new regions have their own characteristics in energy supply and climatic conditions.

Thus, seasonal fluctuations in Bitcoin hashrate continue to exist, but their nature has changed due to the geographical rotation of miners and new energy conditions in different regions of the world.