Overview
- Initial posts cited inspections in Xinjiang that purportedly shut at least 400,000 rigs and cut hashrate about 8%, according to Jack Jianping Kong and analyst commentary.
- Pool-level figures show Foundry USA lost roughly 180 EH/s over hours and Luxor also dipped, suggesting a large share of the drop came from North American power cuts during cold weather.
- Chinese‑origin pools collectively fell around 100 EH/s, though routing from multiple regions complicates tying that decline solely to Xinjiang.
- By December 17, most major pools had recovered and the total was only about 20 EH/s below earlier levels, TheMinerMag reported.
- Recent Luxor data highlighted record‑low hashprice and three straight negative difficulty adjustments that have strained miners, alongside reports of heavier selling on Asian exchanges versus net buying on U.S. venues.