2025-12-18 08:50:47

The recent market wave has sparked widespread discussion. The total network hash rate plummeted nearly 30% within just 24 hours, briefly falling below 1000 EH/s. The story behind this deserves in-depth analysis.

It appears to be a market sentiment collapse, but in reality, it reflects deeper industry adjustments. Driven by electricity costs, idle data center resources, and short-term arbitrage mechanisms, some mining pools in the region quietly resumed operations. However, as relevant authorities enforce unified policies—using energy regulation and administrative measures to regulate the industry—these highly concentrated hash powers were instantly taken offline, causing a stepwise decline across the network.

A noteworthy fact is that in certain regions, virtual currency mining is explicitly classified as a phased-out industry. The governance approach does not rely solely on financial regulation but instead uses electricity pricing leverage and power supply controls—this is more efficient than simple policy bans.

This is precisely the brilliance of Bitcoin's network design. After hash rate drops, mining difficulty automatically adjusts downward, and the remaining miners' rewards actually increase. This incentivizes more hash power from other parts of the world to fill the gap. Network security does not depend on a specific location or single entity but is maintained through global consensus. This self-healing mechanism embodies the core value of decentralization.

For holders, short-term price fluctuations are mainly emotional shocks, not fundamental changes. But it also reminds us that policy risk premiums do indeed exist. At the same time, it reaffirms Bitcoin’s original purpose as an anti-censorship asset.

At this stage, maintaining core positions remains the mainstream strategy. Keep a close eye on developments within the Ethereum ecosystem, as this area has seen good recent growth. Hash rate volatility will pass, but the network’s resilience will remain.

What do you think about this adjustment? Is it a short-term risk or a buying opportunity? Can the Bitcoin network recover quickly? Share your thoughts in the comments.

BTC-1,65%

ETH-3,36%

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MidnightTrader

· 2025-12-19 22:36

The drop in hash rate, to put it simply, is just the policy stick being swung down. In fact, this wave instead proves Bitcoin's resilience; the difficulty adjustment mechanism is truly excellent. Short-term emotional sell-off, but the long-term logic hasn't changed. I still remain bullish.

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SelfSovereignSteve

· 2025-12-18 09:17

Hash rate decline is just a false alarm; the real test is still ahead. That said, this round of policy surgical strikes is so precise, with electricity price leverage more ruthless than administrative bans, which is indeed hard to defend against. Just hold steady and wait for the difficulty adjustment; the global miners will fill the gap quickly. If we can really get through this wave, it will prove what true resistance to censorship really is. I'm also paying attention to Ethereum; the ecosystem's activity is definitely more vibrant than before. People panicking in the short term have been washed out; those with firm faith are actually waiting for opportunities. Who says a drop in hash rate means doom? The self-repair mechanism is actually Bitcoin's ingenious design. Such risks are precisely the time to test the conviction of coin holders; true believers won't be scared away. Once the difficulty adjustment kicks in, miner rewards will become even more attractive, naturally attracting more participants. From a certain perspective, this might actually be an invisible positive, but you need sharp insight to see it that way. Policy risks are like the Sword of Damocles, hanging over our heads at all times, impossible to eliminate. When prices fall, I become even more interested in bottom fishing, mainly because I trust in the resilience of the network.

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CounterIndicator

· 2025-12-18 09:16

Haha, it's the same old story. As soon as the electricity price leverage appears, they start talking about decentralized self-healing. Wait, difficulty adjustment takes time. Is the downtime really safe? I think the current wave of hash rate exit might not be a bad thing; the real miners will survive. The term "policy risk premium" is used well, but who dares to go all in? Ethereum ecosystem is good? Why does it still feel like the same story from two years ago... Short-term emotional shock, basically everyone goes back to their own homes and finds their own moms.

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UncleLiquidation

· 2025-12-18 09:15

Another wave of policy turbulence, miners are taking a hit Adjusting hash rate and difficulty on your own is indeed impressive, it all depends on who can hold out until the prices are favorable Holding coins without moving, let's see how the ecosystem develops with Ethereum Policy risk premium really exists, be mentally prepared The courage to buy the dip isn't that big, just stay steady Hash rate decreases but returns actually increase? That logic is good news for coin holders Decentralization is not just talk, this time it has been verified Short-term emotional reactions, don’t be scared out Network resilience has never disappointed When will global hash rate catch up? That will be the next signal

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GateUser-26d7f434

· 2025-12-18 09:10

Hash rate plummeting doesn't panic us; mining difficulty will adjust, and that's Bitcoin's resilience. Wait, is this time the local government directly using electricity prices as leverage? That's even more ruthless than bans. Short-term sentiment will indeed explode. Stay calm, global hash rate will eventually catch up. No need to be overly pessimistic. Actually, this might be an opportunity—mining rewards are increasing. Policy premiums always exist; just get used to it. With such a significant drop in hash rate, the network will need to adjust again? It doesn't seem like it will recover that quickly. In terms of ecosystem, Ethereum looks to be showing some signs of improvement, but caution is still necessary. In the short term, it's just a sentiment-driven market; the fundamentals haven't changed much. HODLers don't need to panic. This self-healing mechanism is really well-designed by Satoshi. Decentralization isn't just talk. If more miners leave, are rewards actually higher? The logic of a bullish reversal after bearish news seems interesting. The asset's censorship-resistant properties are once again highlighted—reminding the market of this every time.

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LiquidationWatcher

· 2025-12-18 09:06

Hash rate plunge sounds scary, but it actually proves BTC's resilience. --- It's not a crash, just a sieve. --- Wait, is it true that the difficulty automatically adjusts downward? Did the miners actually make more money? --- It's the same old policy story. When can we finally get rid of this uncertainty? --- Decentralization sounds great, but it still hurts when it hits your wallet. --- Who's bottom-fishing this time? Feels like someone is accumulating at low prices. --- Electricity price leverage is even more ruthless than bans, directly cutting off the lifeline. --- So, is the author talking about holding or saying this is an opportunity? The signals are too mixed. --- The Ethereum ecosystem has been pretty good lately, even more stable than Bitcoin this round. --- How is the core position defined? There should be a clear number, right? --- I can't understand the global arbitrage mechanism. Why does it have to be concentrated in one region? --- Network resilience remains, but account balances are gone, haha. --- Whether recovery is fast or not doesn't matter; what's important is that I didn't buy the dip.

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