BTC Hashrate Sees Sharpest Post Halving Drop Since 2024 Amid China Machine Shutdowns
CoinDesk
Bitcoin's hashrate experienced its steepest decline since the April 2024 halving due to massive machine shutdowns in China.Summary
Bitcoin's 30-day simple moving average (SMA) hashrate has seen its sharpest drop since the April 2024 halving, according to VanEck research head Matthew Sigel. Former Canaan chairman Jack Kong reported that approximately 400,000 mining machines recently went offline in China, causing an 8% decline in computing power, or about 100 exahashes per second (EH/s). This shutdown wave in regions like Xinjiang suggests the U.S. mining sector benefited indirectly. This pullback coincides with sustained pressure on miner revenues, with hash price near a five-year low of $37 per petahash per second. To provide temporary relief, Bitcoin mining difficulty is projected to decline by roughly 3%.
(Source：CoinDesk)