⚡ China Bitcoin Mining “Crackdown” Overstated ⚡
Recent claims of a major Bitcoin mining shutdown in Xinjiang caused waves in the crypto world—but data shows the impact was far smaller than feared.
📉 Hashrate Impact:
Net decline: ~20 EH/s, not the ~100 EH/s initially reported
Most mining pools recovered within days
Largest drops were actually in North America, e.g., Foundry USA reported ~180 EH/s loss
📰 While some Chinese mining operations in Xinjiang were temporarily affected, the disruption was brief and not region-specific.
BNBUSDT
Perp
857.56
+4.25%
🔍 Takeaway:
Bitcoin network security and mining activity remain stable
Early alarm overstated geopolitical exposure and regional impact
💡 Bottom line: The “great China crackdown” wasn’t as disruptive as initial reports suggested.