Data from btc.com reveals that Bitcoin's global average hashrate currently stands at 126.83 EH/s, marking a 36% decline from its peak of 197.61 EH/s recorded on May 13. Major Chinese mining pools show significant reductions:
- AntPool: 27.53% hashrate drop
- BTC.com: 18.34% reduction
- Huobi.pool: 36.79% decrease
Notably, between 23:40 June 19 and 00:48 June 20, no Bitcoin blocks were mined for over an hour—an unusual event highlighting network instability.
Molly, Hashkey Hub's Marketing Director, noted on Twitter that Sichuan's government-mandated shutdown of mining facilities caused a "drastic plunge" in hashrate. At midnight on June 20, all cryptocurrency mining operations in Sichuan were abruptly disconnected from power grids, leaving miners unable to relocate equipment facing substantial losses.
Key Takeaways
- Hashrate volatility impacts Bitcoin's block production efficiency
- Regional policies directly influence global mining distribution
- Operational resilience becomes critical for mining sustainability
FAQ
Why did Bitcoin's block interval exceed 1 hour?
The sudden drop in mining hashrate due to China's crackdown reduced computational power securing the network, slowing block discovery rates.
How does Sichuan's policy affect global mining?
Sichuan hosted a significant portion of China's mining capacity. Its exit fragmented hashrate distribution, increasing mining difficulty adjustments globally.
What protections exist for miners facing abrupt shutdowns?
👉 Explore mining risk management strategies including geographic diversification and energy-contract hedging.
For context: Market fluctuations and regulatory shifts remain pivotal factors in cryptocurrency mining economics.
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