Reports show $BTC mining farms in Xinjiang, China are shutting down rapidly. This caused an 8% drop in Bitcoin's hashrate, with about 400,000 miners going offline. The shutdown reflects regulatory or operational pressures in the region, impacting global mining capacity. Market watchers are closely monitoring the effects on Bitcoin's network security and price.
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Reports show $BTC mining farms in Xinjiang, China are shutting down rapidly. This caused an 8% drop in Bitcoin's hashrate, with about 400,000 miners going offline. The shutdown reflects regulatory or operational pressures in the region, impacting global mining capacity. Market watchers are closely monitoring the effects on Bitcoin's network security and price.