The post Bitcoin Hashrate Falls 8% Amid Xinjiang Mining Shutdowns appeared first on Coinpedia Fintech News
The Bitcoin network’s total hashrate dropped by about 100 EH/s yesterday, an 8% decline, as roughly 400,000 mining rigs went offline following the closure of mining farms in Xinjiang, China. This sudden reduction shows how regional mining power shifts can quickly affect the global network’s computing strength. While China has been quietly regaining mining share despite past bans, the exact reasons for this latest shutdown aren’t yet clear. Analysts say such events can impact mining difficulty and block speeds.