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Bitcoin Hashrate Dip in Xinjiang Overstated, Data Shows Smaller Loss

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On-chain data shows Bitcoin analysis of the recent hashrate dip in Xinjiang is less severe than feared. Initial reports suggested a 100 EH/s loss, but actual figures point to around 20 EH/s. TheMinerMag tracked a brief drop followed by a quick rebound in major pools. North American operations, especially Foundry USA, saw sharper declines, likely due to U.S. energy cuts. Chinese pools had mixed results, with no sign of a broad shutdown. Despite the 2021 ban, Xinjiang mining continues thanks to cheap power and spare capacity.
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