Why the ‘Great China Bitcoin Mining Crackdown’ Fell Short of Early Claims

Bitcoin Hashrate Surges as Xinjiang Mining Concerns Ease

Bitcoin Mining in China: Debunking the Recent Crackdown Hype Claims of a renewed crackdown on Bitcoin mining operations in China’s Xinjiang region stirred significant concern within the digital asset community this week. However, recent data suggests that the actual impact on global mining activity was far less severe than initial reports indicated. While there was a noticeable short-term dip in Bitcoin’s network hashrate, the disruption appears…

Why the ‘great China Bitcoin mining crackdown’ fell short of early claims

Data suggests that recent concerns about Xinjiang-related Bitcoin mining have overstated the impact, with most hashrate losses proving brief and driven partly by US power curtailments.

Bitcoin miners face fresh Chinese crackdowns as Xinjiang shutdown cuts hashrate 8%

China’s renewed Xinjiang crackdown has shut down roughly 400,000 ASICs, cutting Bitcoin hashrate by up to 10% and forcing miners to sell into record-low hashprice.​ Bitcoin mining operations in China’s Xinjiang province have suspended activities following renewed enforcement actions by…

China’s Mining Crackdown Drives Bitcoin Hashrate to Three-Month Low

Bitcoin miners in China’s Xinjiang province are unplugging following another crackdown by Beijing this week. As many as 400,000 mining machines have already gone offline, causing a slump in hashrates. Bitcoin is going down because selling pressure is stronger and coming from deeper sources, said analyst Bull Theory on Wednesday. “One major reason is China’s mining crackdown coming back into focus,” they added. Network hashrate has dropped by aro…

Why is Bitcoin Mining Hashrate Falling?

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What is Bitcoin mining?

What is Bitcoin mining and how it works? Also understand why miners are important for network security and the cost of bitcoin mining.