According to 2miners data, between July 2 and July 4, the Bitcoin Cash network hash rate skyrocketed, rising from 3.6 EH/s to a yearly high of 9.4 EH/s, before falling back to a weekly average of 3.3 EH/s as of press time. The Bitcoin Cash Podcast attributed the surge to a new miner called "Phoenix", which captured most of the new Bitcoin Cash supply. The data shows that the miner produced about 90% of the blocks in the two days, though its dominance has dropped to 29% as of press time.