Bitcoin's computing power has thus dropped to 836.75 EH/s within two days, down 30% from the previous day's 1200 EH/s.

Previously, Reuters reported that China's computing power has returned to above 50%, with Xinjiang accounting for a significant portion, and the rest likely in Inner Mongolia, Qinghai, and other areas.

Earlier, a friend of mine had a photovoltaic station in Qinghai that was shut down because it could no longer enjoy national subsidies, and some that were built had not yet been connected to the national grid, hence the shutdown.

It is reported that about 10%-15% of the photovoltaic stations in Qinghai are in a state of shutdown.

So they contracted the shut-down photovoltaic stations and stabilized solar energy by installing energy storage cabinets. The cost of one kilowatt-hour is originally 0.05 yuan, but after building energy storage cabinets, the cost has risen to above 0.30 yuan, yet it is still much cheaper than nearly 1 yuan in Europe and the United States.

This is the true predicament of Chinese miners, who, under the temptation of being able to break even in about six months, take risks. Fortunately, those who are caught only have their mining machines confiscated and do not face other legal risks unless they are stealing electricity.