Overview
- Nano Labs founder Jack (Jianping) Kong reported that at least 400,000 machines in Xinjiang went offline, removing roughly 100 EH/s from the network.
- On-chain data providers recorded a slide from about 1.1 zettahash per second to just above 1 ZH/s, while the 30‑day hashrate posted its sharpest decline since the April 2024 halving.
- Blocks slowed but the network remained stable, with the forthcoming difficulty change projected to lower the threshold by around 3%.
- The precise trigger for the clustered shutdowns was not specified, though China’s inspections and power curbs are frequently cited as causes of abrupt stoppages.
- Mining capacity continues to reallocate, with Hut 8 planning four new U.S. sites totaling 1.5 GW and American Bitcoin purchasing 16,299 Bitmain Antminer units as Eric Trump joins its board.