Bitcoin network hash rate drop may not have caused BTC price crash
The recent blackout in China’s Xinjiang region has caused a drop in hash rate from several Chinese Bitcoin mining operations. Despite several traders
Source: fxstreet.com
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Bitcoin Crashes after Accident in Xinjiang, China Halts Mining Operation
Key Takeaways A gas explosion and flooding at a Chinese coal mine has halted Bitcoin mining operation in Xinjiang, China. The networks' total hashrate dropped by 64 Eh/s as central authorities conducts safety inspections. Bitcoin's price also felt the pressure from the decline in mining power, dropping 4.3% from today's opening price. Share this article Bitcoin’s hashrate dropped 25% from all-time highs after an accident in the Xinjiang region’s mining industry caused flooding and a gas explosion, leading to 12 deaths with 21 workers trapped since. Dangerous Mining in China Reportedly...
Source: cryptobriefing.com