❌🇨🇳 BTC hashrate fell about 8% yesterday to around 100 EH/s, according to the Nano Labs founder.

Reason: closure of Xinjiang mining farms after authorities confiscated/disabled 200,000–400,000 Bitcoin mining devices.

Context: Xinjiang was the informal Bitcoin mining capital before China’s 2021 ban on digital assets.

Chinese mining pools now account for roughly 52% of the total BTC hashrate.

Impact: short-term pressure on BTC; volatility could rise in the coming days.

Crypto Headlines