Bitcoin Mining Hash Rate Drops As Blackouts Instituted In China
Local news outlets have tied a recent dip in the bitcoin mining hash rate to government-instituted blackouts in China.Regional blackouts instituted in Northwest China may be the cause of a drop in hash rate from several China-based bitcoin mining operations, per local media outlet Wu Talk.According to a BTC.com screenshot shared by Wu Blockchain, the hash rate of several major bitcoin mining pools has dropped significantly. As of yesterday, Antpool’s hash rate had crashed by 24.5% in a 24-hour period, Binance Pool by 20%, BTC.com by 18.9% and Poolin by 33%.The blackouts were necessitated....
Related News
On April 15, a widespread power outage in North China led to a sharp decline in the Bitcoin hash rate. Because major mining farms are located in China, there was a 20% corresponding decline in hash rate. The China Hash Rate Crash Of 2021 As a result of the decline in hash rate, backlog in […]
Blackouts for safety inspections in China’s Xinjiang region have significantly impacted the hash rate of many top Chinese Bitcoin mining pools. The hashing power of top Bitcoin mining pools located in Northwest China appears to have plummeted due to a regional blackout to enable safety inspections.The news was reported by Wu Blockchain, the author of Chinese crypto newsletter Wublock, who noted significant drops in the hash rate of several major pools — with Antpool crashing 24.5%, Binance Pool dipping 20%, BTC.com falling 18.9% and Poolin dropping by 33%. The hashrate of Bitcoin mining....
The Ethereum mining hash rate has reached a new all-time-high (ATH) value after completely recovering from China’s crackdowns. Ethereum Mining Hash Rate Makes New ATH The ETH network hash rate has made a new ATH record as the average daily hash rate reached 715k GH/s on Sunday. As Ethereum currently uses a Proof of Work […]
China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year. The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report.China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity....
Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.” Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the Bitcoin (BTC) network hashrate has seen a 49% drop off after touching an all-time high (ATH). Data shows on April 15, BTC’s hashrate climbed to a massive 218 exahash per second (EH/s). Almost immediately after that point, the....