🚨The drop in Bitcoin's hash rate may be related to government inspections in China 🕵️♀️. According to reports, Chinese authorities have begun inspections in the Xinjiang region, leading to the shutdown of BTC mining operations.
- *Impact*: Approximately half a million mining platforms have been deactivated, with an estimated energy consumption of around 2 GW 🔌.
- *Effect on hash rate*: Bitcoin's hash rate dropped from 1.12 ZH/s to 1.05 ZH/s, representing a decrease of approximately 72 EH/s 📉.
- *Context*: China is one of the major Bitcoin mining centers, controlling about 14% of the network's computational power 🌐.
The official confirmation regarding the inspections has not yet been released, but technical calculations suggest that the intervention in China may be related to the drop in Bitcoin's processing power 🤔.
