Xinjiang crypto miners forced to shut down, Antpool hash rates drop by 30%, and Baidu and Weibo try to scrub crypto players from their platforms.
Did a massive Chinese power outage cause Bitcoin’s crash down to $50k?
On-chain analyst Willy Woo argues a massive power outage in Chinese mining hub Xinjiang drove Bitcoin’s violent crash down to $50,000.
Chinese mining pools’ hash power plummets amid regional blackouts
Blackouts for safety inspections in China’s Xinjiang region have significantly impacted the hash rate of many top Chinese Bitcoin mining pools.