Litecoin Hash Rate Down 60% Since August Halving

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Three months after the August 2019 halving, the Litecoin hash rate continues to tumble with mining profitability reaching all-time lows. This massive fall in mining activity signals yet another negative report for the altcoin with reports earlier in the year suggesting developers weren’t interested in contributing to its cryptocurrency code. Litecoin Miners Abandon Ship Data from BitInfoCharts.com shows that the Litecoin hash rate has fallen by more than 60% since the August 2019 halving. These figures are a continuation of the downward trend seen in Litecoin mining activity since the summer of 2019. This massive hash rate decline suggests a significant chilling of miner interest in the sixth-ranked cryptocurrency by market capitalization. Litecoin miners are exiting the network in droves meaning lower computing potential being expended on the network. Most importantly, a hash rate decline of such proportions signals an alarming security risk to the network itself. Falling hash rate…

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