🚨 $BTC
$ZEC Hash Rate Shock! 🚨
💥 Overnight, Bitcoin’s global hash power plummeted by 30%! A sudden lightning raid hit underground mining farms in a major eastern country, leaving miners across the network stunned.
🌙 Just yesterday, we were dreaming of new all-time highs… and today, the network faced its sharpest single contraction since the halving. Reports point directly to the legendary “gray power empire”: Xinjiang.
⚡ After the 2021 ban, this region quietly rebuilt massive underground mining operations, taking advantage of ultra-low energy costs. But overnight, regulatory inspections and sudden power cuts took down over 400,000 high-performance miners, leaving operators with no time to react. One industry veteran said: “This is a complete cleanup—the entire army is gone.”
🤔 Why so harsh? Some speculate that miners showing off wealth on social media caught the authorities’ attention.
☀️ Photovoltaic miners—who leased abandoned solar power stations in Qinghai for rock-bottom electricity rates—are among the hardest hit. The once-envied “break-even in 6 months” dream has now been shattered.
🌎 The fallout? Mining pools in the U.S., Kazakhstan, and other regions are the biggest beneficiaries, reshaping the global mining landscape. With Ethereum’s upgrade and cost reductions abroad, some pools may see unexpected gains.
🎯 The big question: Is this the end of an era or the start of global hash power migration? Concentrated gray mining remains a wildcard. Will miners relocate overseas or search for the next cheap energy frontier?
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