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Xinjiang Shuts Down 400,000–500,000 Bitcoin Miners, Global Hashrate Drops 10%

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Xinjiang authorities have reportedly shut down 400,000–500,000 Bitcoin miners, causing a 10% drop in global hashrate within 24 hours. The move aligns with coordinated efforts by China’s central bank and financial regulators to curb mining. As the spot bitcoin ETF approval draws near, the crackdown signals tighter control over energy and financial infrastructure. The region, once a mining hub, is now a key target in the broader regulatory push. Market watchers are closely watching how this affects the bitcoin ETF approval timeline and miner migration trends.
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