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www-cnbc-com-9722		Bitcoin mining difficulty drops after hashrate collapse in China			.html	text/html	1762	185	74	More than 54% of bitcoin's hashrate, which is the collective computing power of miners worldwide, has dropped off the network since its market peak in May. "This will be a revenue party for miners," said bitcoin mining engineer Brandon Arvanaghi. More than 50% of the hashrate â€" the collective computing power of miners worldwide â€" has dropped off the network since its market peak in May. Fewer people mining means that fewer blocks are solved each day. Typically, it takes about 10 minutes to complete a block, but Feinstein told CNBC the bitcoin network has slowed down to 14to 19-minute block times. CNBC is told that major U.S. mining operators are already signing deals to patriate some of these homeless Bitmain miners. U.S. bitcoin mining is booming, and has venture capital flowing to it, so they are poised to take advantage of the miner migration, Arvanaghi told CNBC. 	./cache/www-cnbc-com-9722.html	./txt/www-cnbc-com-9722.txt