100 EH/s Vanished Overnight — And the Market Felt It

[cryptoenthusiast]

Former Canaan chairman Jack Kong revealed that China’s Bitcoin hashrate fell by roughly 100 exahashes per second in 24 hours, an estimated 8% drop. That decline followed the forced shutdown of hundreds of thousands of mining machines in Xinjiang.

When such a large portion of computing power disappears abruptly, uncertainty rises. Markets often interpret these events as stress signals, especially during already fragile price conditions.

The hashrate shock coincided with Bitcoin breaking key support levels, reinforcing the idea that miner disruptions can spill directly into price action.