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Nano Labs Founder Estimates 400,000 BTC Miners in Xinjiang Offline Amid Hashrate Drop

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BTC
$89,042.501.04%
Bitcoin network activity dropped to 988.49 EH/s, a 17.25% decline from the prior week. Nano Labs founder Kong Jianping estimates at least 400,000 BTC miners in Xinjiang are now offline. Earlier reports showed a mining rebound in the region, with China’s hashrate share hitting 14% by late October 2025. On November 28, 13 Chinese government departments launched a crackdown on virtual currency trading. BTC price remains under pressure amid the regulatory shift.
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