Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Chinese Miners Close for Mandatory Inspections, Bitcoin Mining Hash Rate Declines 10%

written by

Bitcoin Mining Hash Rate Declines 10% As Chinese Mining Farms Shutdown For Mandatory Inspections

Support free journalists: > send a tip

On 5 November 2018, Chinese authorities cut power to cryptocurrency mining farms in Guizhou and Xinjiang provinces for mandatory inspections. It appears this has caused Bitcoin’s network hash rate to decline 10% from 50 Exahash/s to 45 Exahash/s as of this writing on 15 November 2018.

Authorities entered the cryptocurrency mines for tax inspection, identity verification and registration, an audit of funds, and to collect customer information. Mining companies were required to sign a contract that said:

According to the needs of the public security department’s network information security work, in the future, our company will implement higher standards for the company’s business real name system according to the work needs of the public security department. For customers with the latest standard real-name system, the data center will have to suspend reloading, restarting, moving in and out, etc.”

Beyond this, mining companies had to agree to implement optimal power supply procedures, have proper business licenses, and to follow proper social security protocols.

At least some cryptocurrency mines were given a notice that they had to relocate, or that their power would be throttled after using a certain amount. For cryptocurrency miners, this can be catastrophic, since mining can rely on slim profit margins dependent on perpetual operation.

One of the mines impacted by this situation is reportedly losing nearly USD 150,000 per day. If the 10% decline in Bitcoin’s network hash rate is due to this cutoff, that represents total losses of USD 1 million per day. However, it is impossible to confirm if the entirety of the 10% decline is due to this mining crackdown.

There is no confirmation that power has been restored and indeed, Bitcoin’s network hash rate has not increased since the mining shutdown began, perhaps suggesting cryptocurrency mines in Guizhou and Xinjiang remain in the dark.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter