The Bitcoin network now performs an average of 223.20 exahashes per second , according to data from Coin Metrics, as computers race to win the bitcoin mining lottery and submit the next valid block.
In May, the country banned regulated financial services providers from offering Bitcoin-related services, including registration, trading, clearing and settlement, as a joint statement from Chinese regulators mentioned BTC price volatility as something that could infringe “on the safety of people’s property” and disrupt “the normal economic and financial order.” Later that month, the measures escalated as the country effectively started cracking down on bitcoin mining with power rationing measures and similar restrictions.
The ever-stricter regulations soon began covering the broader Bitcoin ecosystem as major internet service companies in China started censoring keywords related to bitcoin exchanges.