Bitcoin 'hash crash' rebound points to miners plugging back in

Beijing

CALL it the "hash crash" - the steep drop in computing power for the Bitcoin network as Chinese operations pulled the plug amid the government crackdown. But whatever term one might use, it's basically over now.

The hash rate, a measure of computing power used in mining and processing, has jumped as much as 55 per cent from early July, when it hit an almost two-year low. Prices for the token also recouped more than half of its losses since its April peak and traded at around US$50,000 on Thursday.