According to CryptoSlate data, the price of BTC fell 64.68% to $16,870 from about $47,766 at the beginning of the year. However, this hasn’t stopped miners from increasing their Bitcoin mining capacity in 2022, according to a report by Compass mining.
For example, CleanSpark’s BTC mining hash rate has increased from 1.9 EH/s in early 2022 to 6.0 EH/s, with about 62,000 miners so far, an increase of 189%. Bit Digital and Riot blockchains saw their hash rates increase by 157% and 148%, respectively.