The post China’s Mining Crackdown Drives Bitcoin Hashrate to Three-Month Low appeared on BitcoinEthereumNews.com. Home » Crypto News A Bitcoin mining crackdownThe post China’s Mining Crackdown Drives Bitcoin Hashrate to Three-Month Low appeared on BitcoinEthereumNews.com. Home » Crypto News A Bitcoin mining crackdown

China’s Mining Crackdown Drives Bitcoin Hashrate to Three-Month Low

Home » Crypto News


A Bitcoin mining crackdown in China and a sharp decline in hashrate are behind the Bitcoin slump, according to analysts.

‘;
}

function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);

const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);

scriptEl.src = scriptURL.toString();

// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}

function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}

// Initial Load for Desktop
if (window.innerWidth > 768) {

const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}

// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}

// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’Listen‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();



Summarize with AI



Summarize with AI

Bitcoin miners in China’s Xinjiang province are unplugging following another crackdown by Beijing this week. As many as 400,000 mining machines have already gone offline, causing a slump in hashrates.

Bitcoin is going down because selling pressure is stronger and coming from deeper sources, said analyst Bull Theory on Wednesday.

“One major reason is China’s mining crackdown coming back into focus,” they added.

Network hashrate has dropped by around 8%, which is a large move considering that China still controls roughly 14% of global hash power, they observed.

Asian Whales Selling BTC

The analyst added that Asian OG holders likely began selling weeks ago in anticipation of renewed restrictions, and on-chain data confirms increased long-term holder selling over the past couple of months. There has also been a miner capitulation as closed mining farms must sell BTC reserves and equipment to cover their losses.

Additionally, Asian exchanges such as Binance, Bybit, and OKX show consistent net spot selling through Q4, while US exchanges such as Coinbase show continued net buying, they added.

You may also like:

Bitcoin’s hashrate has dropped 10% from around 1,160 EH/s in October to ~1,045 EH/s in December, marking three consecutive negative difficulty adjustments, reported Luxor on Wednesday.

They noted that the trend was driven by three factors:

This decline in hashrate is driven by a convergence of price compression, seasonal energy costs, and targeted regulatory pressure, which are all squeezing marginal miners simultaneously.

Additionally, hashprice, which quantifies the amount a miner can expect to earn from a specific quantity of hashrate, is at an all-time low of $0.036 per terahash per second per day, according to Luxor. Diminishing returns and increasing costs put more pressure on miners to sell.

BTC Continues to Fall

Bitcoin is bearing the brunt of this hashrate slump as it continues to weaken.

Aside from another manipulated pump-and-dump by derivatives degens, the asset is down on the day, having failed to reclaim $87,000.

It was trading at $86,560 at the time of writing, at the lower bounds of its range-bound channel that formed in late November.

SPECIAL OFFER (Exclusive)

SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).

Source: https://cryptopotato.com/chinas-mining-crackdown-drives-bitcoin-hashrate-to-three-month-low/

Market Opportunity
Sleepless AI Logo
Sleepless AI Price(AI)
$0.0357
$0.0357$0.0357
-1.59%
USD
Sleepless AI (AI) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

What Could Help Pi Coin Rebound?

What Could Help Pi Coin Rebound?

The post What Could Help Pi Coin Rebound? appeared on BitcoinEthereumNews.com. Pi Coin has extended its decline for a third straight week, falling sharply from
Share
BitcoinEthereumNews2025/12/19 21:09
Foreigner’s Lou Gramm Revisits The Band’s Classic ‘4’ Album, Now Reissued

Foreigner’s Lou Gramm Revisits The Band’s Classic ‘4’ Album, Now Reissued

The post Foreigner’s Lou Gramm Revisits The Band’s Classic ‘4’ Album, Now Reissued appeared on BitcoinEthereumNews.com. American-based rock band Foreigner performs onstage at the Rosemont Horizon, Rosemont, Illinois, November 8, 1981. Pictured are, from left, Mick Jones, on guitar, and vocalist Lou Gramm. (Photo by Paul Natkin/Getty Images) Getty Images Singer Lou Gramm has a vivid memory of recording the ballad “Waiting for a Girl Like You” at New York City’s Electric Lady Studio for his band Foreigner more than 40 years ago. Gramm was adding his vocals for the track in the control room on the other side of the glass when he noticed a beautiful woman walking through the door. “She sits on the sofa in front of the board,” he says. “She looked at me while I was singing. And every now and then, she had a little smile on her face. I’m not sure what that was, but it was driving me crazy. “And at the end of the song, when I’m singing the ad-libs and stuff like that, she gets up,” he continues. “She gives me a little smile and walks out of the room. And when the song ended, I would look up every now and then to see where Mick [Jones] and Mutt [Lange] were, and they were pushing buttons and turning knobs. They were not aware that she was even in the room. So when the song ended, I said, ‘Guys, who was that woman who walked in? She was beautiful.’ And they looked at each other, and they went, ‘What are you talking about? We didn’t see anything.’ But you know what? I think they put her up to it. Doesn’t that sound more like them?” “Waiting for a Girl Like You” became a massive hit in 1981 for Foreigner off their album 4, which peaked at number one on the Billboard chart for 10 weeks and…
Share
BitcoinEthereumNews2025/09/18 01:26
Why BitDelta’s Winter WonderTrade Stands Out

Why BitDelta’s Winter WonderTrade Stands Out

The post Why BitDelta’s Winter WonderTrade Stands Out appeared on BitcoinEthereumNews.com. Crypto Projects As the crypto market widens in scope and participation
Share
BitcoinEthereumNews2025/12/19 21:26