Most of the crypto community has been focused on the developments in China and more specifically, the crackdowns against bitcoin miners in Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan. On Wednesday morning (EST), Bitcoin’s overall hashrate has continued to drop and is now below the 100 exahash per second (EH/s) region. During the last 24 hours, people acquainted with Chinese miners have been describing the latest hardships bitcoin miners are facing.
Hashrate Migration Is ‘Destined to Be a Long Process’
Notices stemming from government officials in five Chinese provinces noted that bitcoin mining operations must cease immediately and this has caused a lot of anxiety among some bitcoiners in recent times. On Tuesday, June 22, Bitcoin.com News reported on the hashrate shifts and how mystery hashrate and stealth mining has started to increase following the crackdowns. Bitcoin.com News also explained last week how it is extremely difficult to pinpoint