PANews December 15 News, former Co-Chairman of the Board of Jihan Technology, now Nano Labs founder and chairman Kong Jianping quoted his previous tweet about “Xinjiang Bitcoin mining farms shutting down one after another” and stated that Bitcoin hash rate has decreased by 100EH/s compared to yesterday, a drop of 8%. He further analyzed that, based on an average hash rate of 250T, this means at least 400,000 miners have stopped operating.
Previously, F2Pool data indicated that, under the high network difficulty, most older Bitcoin miners have fallen below the shutdown price.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Has Stabilized, But Investors Are Paying Up for Downside Protection: VanEck
Bitcoin's volatility has decreased to around $70,000, but traders are still heavily investing in downside protection. Although premiums for puts have dropped, they remain high historically, suggesting caution among investors. This defensiveness may signal an impending price bottom, as similar market conditions in the past have led to recoveries.
Decrypt3m ago
Crypto News Today: Bitcoin Yield Accretion Targets Record Highs While AlphaPepe Models 100x Value Reset for Q2
Strategy Inc, the company formerly known as MicroStrategy, just posted a 1.2% BTC Yield for 2026, adding 7,826 Bitcoin worth $551 million to its treasury in under three months. Michael Saylor called it the closest economic analogue to net income on the Bitcoin Standard. The market disagreed.
CaptainAltcoin38m ago
