BlockBeats News, December 15th, Kong Jianping, former Co-Chairman of Canaan Inc., now Founder and Chairman of Nano Labs, quoted his previous tweet "Xinjiang Bitcoin mining farms are gradually shutting down", stating that, considering the recent drop in Bitcoin's hashrate, based on an average of 250T per machine, at least 400,000 Bitcoin mining machines have been shut down recently.Earlier reports, according to F2pool data, the Bitcoin network's hashrate is currently reported at 988.49 EH/s, a 17.25% drop from the same time last week.It is worth noting that in November, foreign media reported that Bitcoin mining activities in China's Xinjiang and other regions were once again active, as of the end of October 2025, China's Bitcoin mining hashrate share had risen to around 14% (the world's third largest). Subsequently, on the 28th, the People's Bank of China led thirteen departments to deploy a special campaign to crack down on virtual currency trading speculation.

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