{"id":16982,"date":"2021-04-16T19:07:24","date_gmt":"2021-04-16T19:07:24","guid":{"rendered":"http:\/\/ci0280c868f0002496"},"modified":"2021-04-16T19:07:24","modified_gmt":"2021-04-16T19:07:24","slug":"bitcoin-mining-hash-rate-drops-as-blackouts-instituted-in-china","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/bitcoin-mining-hash-rate-drops-as-blackouts-instituted-in-china","title":{"rendered":"Bitcoin Mining Hash Rate Drops As Blackouts Instituted In China"},"content":{"rendered":"
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Regional blackouts instituted in Northwest China may be the cause of a drop in hash rate from several China-based bitcoin mining operations, per local media outlet Wu Talk<\/a>.<\/p>\n

According to a BTC.com screenshot<\/a> shared by Wu Blockchain<\/a>, the hash rate of several major bitcoin mining pools has dropped significantly. As of yesterday, Antpool\u2019s hash rate had crashed by 24.5% in a 24-hour period, Binance Pool by 20%, BTC.com by 18.9% and Poolin by 33%.<\/p>\n

The blackouts were necessitated because of a \u201ccomprehensive power outage safety inspection\u201d in Xinjiang, per the Wu Talk report. Local news outlet Xinhuanet<\/a> that the National Mine Safety Supervision Bureau has reported three recent coal mine accidents, including an April 10 \u201cwater penetration accident\u201d in Xinjiang that caused 21 people to be trapped. <\/p>\n

Significantly, the Xinjiang and Sichuan regions of China combined account for more than 50 percent of the overall Bitcoin mining hash rate, according to Primitive Crypto partner Dovey Wan<\/a>. Operations based in China comprise the majority of global mining power.<\/p>\n

This impact that this blackout may have had on Bitcoin\u2019s price, which had recorded a 1.5% drop in value in the last 24 hours<\/a>, raises questions about the level of centralization of the Bitcoin network’s hashing activity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Local news outlets have tied a recent dip in the bitcoin mining hash rate to government-instituted blackouts in China.<\/p>\n","protected":false},"author":3283,"featured_media":14381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[189,347],"class_list":{"0":"post-16982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-mining","9":"tag-china"},"author_data":{"id":3283,"name":"Oluwapelumi Adejumo","nicename":"oluwapelumi-adejumo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/oluwapelumi-adejumo-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/authority-disputes-china-central-bank-digital-currency-report.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3283"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16982"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/14381"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}