Bitcoin Cash hash rate hits yearly peak

According to 2miners data, the Bitcoin Cash network's hash rate surged from 3.6 EH/s to a yearly high of 9.4 EH/s between July 2nd and July 4th, before dropping back down to a weekly average of 3.3 EH/s at the time of writing. Bitcoin Cash Podcast attributed this spike to a new miner called "Phoenix," which captured most of the new Bitcoin Cash supply. Data shows that this miner produced around 90% of the blocks during those two days, but its dominance has since dropped to 29%.