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.
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