In December of 2018, Litecoin’s hash rate was at its lowest in the past 1.5 years when it touched 140 TH/S. Litecoin’s hash rate has grown steadily in 2019 with the hash rate going above 200 Th/s for the first time after a 10 months period.
According to Bitinfocharts, last time Litecoin’s hash rate was this high was on April 2018, when Litecoin was valued at $120. Litecoin’s value had dipped a lot, causing miners to abandon mining and shift to more profitable coins.
Litecoin’s hash rate seemed to have bottomed out at 140 TH/S and since then it has started increasing. The recent price increase of Litecoin has also attributed to miners switching on their equipment.
Analysts predict that Litecoin’s hash rate would increase up to 250 TH/S before stabilizing and waiting for further price increase. Litecoin’s current hash rate is 225 TH/S.
Litecoin is still profitable to mine. According to Bitinfocharts, mining Litecoin gives an average profit of $2.80 in the current market climates.
Did you like the news you just read? Please leave a feedback to help us serve you better