• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

Lights Go Off in Sichuan Bitcoin Mining Farms

19/06/2021 15:26
1 comment
Black day in China, June 19 2021

Sichuan mining farms will all be closed in the early morning of June 20 according to local crypto media, bringing an end to an era.

At midnight on June 20th Shanghai time, all bitcoin and other crypto mining facilities in Sichuan will be collectively powered off.

Bitcoin miners who are too late to move the rigs will suffer huge losses as a result. Sichuan is the biggest region of Bitcoin miners in China and even in the world. Industry insiders said:

“With the shutdown of Sichuan mining, the most tragic moment for miners in blockchain history is ushered in. How far-reaching is the historical significance of this time? You will know.”

Bye 👋 pic.twitter.com/3JrM5qw0E7

— 8BTCnews (@btcinchina) June 19, 2021

According to QKL123 data, the current Bitcoin network average computing power is 129.52 EH/s, which is 34% lower than the historical high of 197.61 EH/s (May 13).

At the same time, according to OKLink, the top ten Bitcoin mining pools with a Chinese background, such as AntPool, Poolin, Binance, and Huobi Pool, have dropped sharply in their computing power, and dropped by 21.05%, 16.45%, 25.15% and 31.19% in the past 24 hours.

More videos about miner packing up and leaving .. pic.twitter.com/uILDsijRil

— Molly (@bigmagicdao) June 19, 2021

The Chinese mining industry is thought to be worth in the tens of billions, with giants like Bitmain credited for advancing the semiconductors industry.

It hosted at one point around 90% of the hashrate, with it now thought to be around 40%-50%.

All such industry miners are to close, making it the “darkest moment” for bitcoin miners in China according to industry media there.

The global bitcoin network is unlikely to be affected, with much of the hash having already dropped as China gradually closed region by region and as the more informed miners presumably migrated.

North America and Europe are thought to benefit significantly from this exodus as the cutting edge bitcoin computing industry comes home.

Related Posts

Central Banks that will attend the Bitcoin Gathering in El Salvador

44 Central Banks to Attend Bitcoin Gathering in El Salvador

Three Months US Treasury Bonds Rate, May 2022

Falling Bonds Back USDc

Luna Confirms They Sold All Bitcoin

Crypto Developers Don’t Own Duty of Care Court Rules

Load More
  • Trending
  • Comments
  • Latest
One of Luna's bitcoin wallet, May 2022

Luna Confirms They Sold All Bitcoin

US Bureau of Labor Statistics

Inflation Falls

Central Banks that will attend the Bitcoin Gathering in El Salvador

44 Central Banks to Attend Bitcoin Gathering in El Salvador

Wormhole UST/CRV Disbalance, May 2022

Who Killed Luna?

Central Banks that will attend the Bitcoin Gathering in El Salvador

44 Central Banks to Attend Bitcoin Gathering in El Salvador

Three Months US Treasury Bonds Rate, May 2022

Falling Bonds Back USDc

One of Luna's bitcoin wallet, May 2022

Luna Confirms They Sold All Bitcoin

The Court of Justice

Crypto Developers Don’t Own Duty of Care Court Rules

Comments

Latest News

  • 44 Central Banks to Attend Bitcoin Gathering in El Salvador
  • Falling Bonds Back USDc
  • Luna Confirms They Sold All Bitcoin

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?