Bitcoin Hashrate Plummets 10% as China Shuts Down 400,000 Miners

Bitcoin Hashrate Drops 10% as China Shuts 400,000 Miners

The Bitcoin hashrate has experienced a significant decline, dropping approximately 10% in a single day, from 1,053 terahashes per second (TH/s) to just under 943 TH/s. This sharp decrease is attributed to the closure of mining farms in Xinjiang, China, which has affected hundreds of thousands of machines. Jianping Kong, former co-chairman of the Bitcoin hardware manufacturer Canaan, reported that the computational power has decreased by about 100 exahashes per second, corresponding to at least 400,000 offline machines.

The 30-day moving average of the hashrate fell from around 1.1 zettahash per second to just over 1 ZH/s, marking the largest drop since the halving in April 2024. Matthew Sigel, head of digital asset research at VanEck, confirmed that this represents the largest decline in over a year. The mining presence in China has been inconsistent over time, with the country controlling about 65% of the Bitcoin hashrate before the government shutdown in 2021.

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"The decline coincides with economic pressure on miners, as the hash price is around $37 per petahash per second, close to a five-year low." - CoinMarketCap

In summary, the recent shutdown of mining operations in China has led to a notable decrease in Bitcoin's hashrate, highlighting the vulnerabilities associated with regional concentration in mining activities.

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Russia to Permanently Ban Crypto Mining in Additional Regions

Russia is set to impose a year-round ban on crypto mining in two Siberian regions, Buryatia and Transbaikalia, as part of its efforts to regulate the industry. The Russian government plans to expand the existing complete ban on cryptocurrency mining to around a dozen regions, following seasonal restrictions that were recently implemented due to winter electricity shortages. The permanent ban is expected to be introduced next year, as the authorities aim to address energy consumption issues exacerbated by mining activities.

Previously, the mining operations in these regions were temporarily halted during the winter months when electricity demand peaks. The Russian government has been inconsistent in its approach to crypto mining, having legalized it in 2024 to capitalize on its abundant energy resources. However, the increasing concentration of mining companies has led to energy shortages, prompting the government to take more stringent measures against mining activities.

"We are observing the situation on the ground. If necessary, we will respond promptly and ban mining for the entire year." - Cryptopolitan

In summary, Russia's decision to permanently ban crypto mining in additional regions reflects ongoing concerns about energy consumption and the need for regulatory clarity in the cryptocurrency sector.

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Anonymous am 16.12.2025

Wow this is crazy! I mean a 10% drop in hashrate in just one day? That like, sounds like a big deal? I wonder how that affects the whole bitcoin thing, like are people gonna start panic selling or something? I saw someone say there was 400,000 miners shut down, but what does that even mean? Are they like, shutting off machines or what? Does anyone know if this will make bitcoins more expensive or cheaper? Seems like less machines means less bitcoins being made, so maybe prices go up? Or maybe not, idk. And speaking of that, the whole cloud mining thing sounds interesting but I was always kinda confused about it. Can someone explain it in simple terms? I think it’s weird that mining can be banned so easily in some places like Russia. Like, don’t they have a lot of energy over there? What’s the deal with that? And, can someone remind me what zettahashes are again? I thought it was a made up word at first ? Anyway, hope to see what happens next with the prices and stuff. This crypto world is wild!

Article Summary

Bitcoin's hashrate dropped 10% due to the shutdown of mining farms in China, affecting around 400,000 machines and highlighting regional vulnerabilities. Meanwhile, Russia plans a permanent ban on crypto mining in two regions to address energy consumption issues exacerbated by mining activities.