{"id":42695,"date":"2021-05-18T15:14:34","date_gmt":"2021-05-18T12:14:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42695"},"modified":"2025-08-31T00:22:21","modified_gmt":"2025-08-30T21:22:21","slug":"power-outages-in-china-knock-bitcoins-hashrate-by-20","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/power-outages-in-china-knock-bitcoins-hashrate-by-20\/","title":{"rendered":"Power outages in China knock Bitcoin&#8217;s hashrate by 20%"},"content":{"rendered":"<p>On May 17, the total hash rate of the Bitcoin network fell by 20%. The drop was caused by power-supply disruptions in China&#8217;s Sichuan province due to low rainfall and a shortage of coal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As of the morning of May 17, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> mining pool\u2019s 24-hour computing power suddenly plunged 20%. Mainly because of shortage of power supply and carbon neutrality policy. <a href=\"https:\/\/twitter.com\/hashtag\/bitcoinmining?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoinmining<\/a> <a href=\"https:\/\/t.co\/bXn8dFPC0S\">https:\/\/t.co\/bXn8dFPC0S<\/a> <a href=\"https:\/\/t.co\/PclXufaGtD\">pic.twitter.com\/PclXufaGtD<\/a><\/p>\n<p>\u2014 8BTCnews (@btcinchina) <a href=\"https:\/\/twitter.com\/btcinchina\/status\/1394546866725933061?ref_src=twsrc%5Etfw\">May 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On May 16, provincial authorities temporarily restricted electricity supplies to large consumers. The measures could be lifted once demand and supply normalise.<\/p>\n<p>Officials say they are guided by the aim of achieving carbon neutrality. China plans to peak CO<sub>2<\/sub> emissions before 2030 and fully eliminate them in the following 30 years. These targets are outlined in the five-year development plan adopted in March this year.<\/p>\n<p>According to Coin Metrics, the Bitcoin hashrate fell to 150.6 EH\/s. <a href=\"https:\/\/bitinfocharts.com\/ru\/comparison\/bitcoin-hashrate.html#3m\" target=\"_blank\" rel=\"noreferrer noopener\">BitInfoCharts<\/a> puts an even lower estimate at around 132.5 EH\/s.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"411\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Coin-Metrics-1024x411.png\" alt=\"Power outages in China knocked Bitcoin's hashrate down by 20%\" class=\"wp-image-135687\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Coin-Metrics-1024x411.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Coin-Metrics-300x120.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Coin-Metrics-768x308.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Coin-Metrics-1536x617.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Coin-Metrics.png 1815w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\"> Coin Metrics<\/a>.<br \/><\/figcaption><\/figure>\n<\/div>\n<p>In April 2021, the Bitcoin hashrate <a href=\"https:\/\/u1f987.com\/en\/news\/hashrate-of-leading-mining-pools-falls-after-chinese-coal-mine-accidents\">sharply fell<\/a> due to power outages as part of safety checks after explosions and floods in Chinese coal mines.<\/p>\n<p>This incident, Elon Musk <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-criticises-bitcoin-for-centralisation-and-threatens-to-bet-it-all-on-doge\">led<\/a> as an example of the dependence of the first cryptocurrency on mining companies.<\/p>\n<p>ForkLog previously wrote about <a href=\"https:\/\/u1f987.com\/en\/news\/hashrate-slump-overheated-market-and-cascade-of-liquidations-what-is-driving-bitcoins-price-decline\">how the hashrate relates to the price of Bitcoin<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 17, the total hash rate of the Bitcoin network fell by 20%. The disruption was caused by power-supply outages in Sichuan province, China, due to low rainfall and a shortage of coal.<\/p>\n","protected":false},"author":1,"featured_media":42696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1137],"class_list":["post-42695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42695"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42695\/revisions"}],"predecessor-version":[{"id":42697,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42695\/revisions\/42697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/42696"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}