Bitcoin Hashrate Drops 5.6% After China Shuts Down Xinjiang Miners

Bitcoin Hashrate Drops as China Intensifies Crypto Scrutiny

Key Insights The Bitcoin hashrate has fallen by 5.6% in 24 hours following China’s increased scrutiny of Bitcoin mining farms within the country. More than 400,000 Bitcoin mining machines were shut down in Xinjiang Province of China. The decline in the BTC price and miners pivoting to AI might also be a factor behind the decline in hashrate. Bitcoin has fallen by 5.6% over the last few days after 100 exahash per second (EH/s) of computing power…

Bitcoin Hashrate Drops 5.6% After China Shuts Down Xinjiang Miners

Bitcoin Plunges Below $86,000 as Altcoin Sell-Off Accelerates network computing power declined sharply this week following reports that large-scale mining operations in China’s Xinjiang region were taken offline, according to industry sources and on-chain data. Network metrics show Bitcoin’s global hashrate fell by an estimated 5.6% to 8% beginning around December 13, marking one of the most notable post-halving drawdowns in mining activity. The…

Bitcoin Mining Shutdown in Xinjiang Cuts Global Hashrate

Bitcoin mining in Xinjiang halts, reducing global hashrate by 8%. Semiconductor leader Nano Labs involved.

Bitcoin Hashrate Slumps as Xinjiang Mining Centres Appear to Go Dark

Bitcoin’s network has suffered one of its sharpest single-day shocks this year after a sudden collapse in computing power, fuelling claims that large mining hubs in China’s Xinjiang region have been forced offline in a regulatory policy shift. : Get all the latest crypto news at Sandmark

Bitcoin Hashrate Drops 8% as 400,000 Mining Rigs Go Offline

Bitcoin’s network saw a sudden shock this week. On December 15, total hashrate dropped by roughly 100 exahashes per second. That equals an estimated 8% decline in just one day. On-chain observer @punk8185 says this is not a normal fluctuation.  According to @punk8185, the total network hashrate dropped by approximately 100 EH/s yesterday, a decrease of about 8%, with at least 400,000 Bitcoin mining rigs shutting down, mainly due to the closure …