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China’s share in bitcoin hash rate falls amid repression against miners



This week, the share of Chinese mining pools in the bitcoin hash rate has significantly decreased. According to updated data from BTC.com, the largest miners from the Middle Kingdom have lost up to 30% of the capacity generated in the bitcoin network. Pools AntPool, F2Pool, Poolin and BTC.com suffered the most losses. Pools owned by Huobi and Binance were less affected. BTC hashrate has also dropped sharply this week. In just a day, the computing activity on the network collapsed by 25%. Now, according to BitinfoCharts, the hash rate is in the region of 140 exaches per second (EH / s). Note that in mid-May this figure exceeded 171 EH / s. The decline in computing power began last month. It was caused by the repressive policies of the Chinese authorities. Several provinces in the PRC first reduced the supply of electricity to mining farms, and then completely suspended their supply. This week, officials from Xinjiang province ordered local miners to stop working. According to experts, if Beijing’s repressive policy against miners continues, then China will soon lose its status as a leader in bitcoin hashrate.

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