{"id":44632,"date":"2021-06-20T10:48:49","date_gmt":"2021-06-20T07:48:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44632"},"modified":"2025-08-31T17:50:38","modified_gmt":"2025-08-31T14:50:38","slug":"bitcoin-hash-rate-plunges-amid-chinese-authorities-decisions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-hash-rate-plunges-amid-chinese-authorities-decisions\/","title":{"rendered":"Bitcoin hash rate plunges amid Chinese authorities&#8217; decisions"},"content":{"rendered":"<p>The hash rate of Bitcoin&#8217;s network fell below 110 EH\/s after Sichuan authorities <a href=\"https:\/\/u1f987.com\/en\/news\/sichuan-miners-ordered-to-halt-operations-by-june-20\">shut down key miners<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"417\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Hashrate-Chart-Google-Chrome-1024x417.jpg\" alt=\"Bitcoin hash rate plunges amid Chinese authorities' decisions\" class=\"wp-image-139542\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Hashrate-Chart-Google-Chrome-1024x417.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Hashrate-Chart-Google-Chrome-300x122.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Hashrate-Chart-Google-Chrome-768x313.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Hashrate-Chart-Google-Chrome-1536x626.jpg 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Bitcoin-Hashrate-Chart-Google-Chrome.jpg 1677w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/bitinfocharts.com\/comparison\/bitcoin-hashrate.html#3m\" target=\"_blank\" rel=\"noreferrer noopener\">Bitinfocharts<\/a>.<\/figcaption><\/figure>\n<p>Journalist Colin Wu published a video showing equipment being shut down. The video, he said, went viral among Chinese miners.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Many Chinese miners are reposting this video, and some of them are crying. The 24-hour average hashrate has fallen below 110E. <a href=\"https:\/\/t.co\/3B30CljIac\">https:\/\/t.co\/3B30CljIac<\/a> <a href=\"https:\/\/t.co\/4DcrZ4jBK0\">pic.twitter.com\/4DcrZ4jBK0<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1406269298423726084?ref_src=twsrc%5Etfw\">June 19, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Late on June 20, the interval between mined blocks stretched to almost two hours, instead of the algorithm&#8217;s approximately 10 minutes, a reporter noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">After most big mining farms were shut down in Sichuan, the Bitcoin network once again had a block time of more than 1 hour last night. On June 12, there was a block production time of nearly 2 hours. <a href=\"https:\/\/t.co\/KOLCp6z5gb\">pic.twitter.com\/KOLCp6z5gb<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1406492195062915072?ref_src=twsrc%5Etfw\">June 20, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The journalist also noted that BitDeer, the cloud-mining platform owned by former Bitmain co-founder Jihan Wu, has no facilities in China, and in recent months opened several farms in the United States, Northern Europe, and South Asia.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Another interesting fact is that Bitdeer, led by Jihan Wu, does not own any mines in China. He foresaw the blow and set up multiple mines in the United States, Northern Europe, and South Asia. He even warned miners not to underestimate the government\u2019s carbon neutral in April.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1406304090842230790?ref_src=twsrc%5Etfw\">June 19, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the journalist, the former CEO of Bitmain warned miners as early as April about a possible crackdown by Chinese authorities on the industry due to its carbon footprint.<\/p>\n<p>Earlier reports said Sichuan authorities <a href=\"https:\/\/u1f987.com\/en\/news\/media-miners-in-sichuan-will-be-allowed-to-operate-until-september\">would allow miners to operate until September<\/a>.<\/p>\n<p>In the provinces <a href=\"https:\/\/u1f987.com\/en\/news\/inner-mongolia-authorities-launch-crackdown-on-illegal-cryptocurrency-mining\">Inner Mongolia<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/xinjiang-residents-of-one-of-the-largest-mining-hubs-ordered-to-halt-operations\">Xinjiang<\/a>, officials introduced restrictive measures against mining, and in <a href=\"https:\/\/u1f987.com\/en\/news\/authorities-in-chinas-qinghai-province-order-miners-to-halt-operations\">Qinghai<\/a> authorities completely banned cryptocurrency mining activities.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin hash rate fell below 110 EH\/s after Sichuan authorities halted key miners.<\/p>\n","protected":false},"author":1,"featured_media":44633,"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-44632","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":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44632","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=44632"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44632\/revisions"}],"predecessor-version":[{"id":44634,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44632\/revisions\/44634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44633"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}