#巨鲸动向
December 15, former co-chairman of Bitmain, now founder and chairman of Nano Labs, Kong Jianping, quoted his previous tweet "Bitcoin mining farms in Xinjiang are gradually shutting down," indicating that, in light of the recent decline in Bitcoin's hash rate, at an average of 250T (hash rate calculation) per machine, at least 400,000 Bitcoin mining machines have shut down recently.
According to data from F2pool, the total Bitcoin network hash rate is currently reported at 988.49EH/s, a decrease of 17.25% compared to the same time last week.
It is worth noting that in November, foreign media reported that Bitcoin mining activities in regions like Xinjiang, China, have become active again. By the end of October 2025, China's share of Bitcoin mining hash rate had rebounded to about 14% (the third largest in the world). Subsequently, on the 28th, the People's Bank of China led thirteen departments to deploy a special rectification to combat speculation and trading of virtual currencies.
Miner selling pressure may increase in the short term. Miners forced to shut down may sell their inventory of Bitcoin to cover costs or relocate, increasing market selling pressure. However, in the long term, shutdowns also mean reduced future selling pressure, which is beneficial for the long-term development and price of Bitcoin.
#GiggleAcademy #Max @Max Charity
What do you think about the BTC trend!
