🚨 Breaking! The Bitcoin network is facing a "hash rate earthquake"! Mining operations in Xinjiang have been suddenly inspected, and the global hash rate has plummeted by over 17% within a week, with at least 400,000 mining machines instantly powered off! $BTC
This is not an ordinary fluctuation, but a thunderous strike against the "gray empire." Despite being explicitly banned in 2021, Xinjiang and other regions have continued to be the "underground heart" of global Bitcoin mining, silently contributing about 14% of the global hash rate (the third highest in the world). Last month, foreign media reported that Chinese hash rates were "quietly reviving," which likely triggered this precise crackdown. $ETH
💥 Impact and chain reactions:
· Major drop in global hash rate: Bitcoin's total network hash rate dropped over 17% in a short time, to about 988 EH/s. This means that the network's security hash rate has significantly decreased, while the short-term profits of remaining miners may unexpectedly surge due to a lag in difficulty adjustment. $BNB
· Where do miners go from here? This is similar to the scenario in 2021: domestic mining operations face the choice of either "moving to more concealed underground" or "completely migrating abroad." Compliance mining pools in the US, Kazakhstan, and other regions will become the main beneficiaries.
· Long-term warning: This incident once again sounds the alarm— the Bitcoin network remains quite fragile and highly dependent on energy and policies from specific regions. Any slight disturbance could trigger severe fluctuations in the entire network's hash rate. #加密市场观察
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👉 In your view, is this "hash rate storm" a painful moment for the decentralization of the Bitcoin network, or another testament to its resilience? Will the global mining landscape be thoroughly reshuffled because of this? #BTC
