Bitcoin Hashrate Falls 17% Overnight After China Mining Crackdown

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Business Bitcoin Hashrate Falls 17% Overnight After China Mining Crackdown The Bitcoin network’s hashrate slowed after authorities in China’s Sichuan province cut the power on 26 mining farms. Bitcoin’s hashrate fell 17% in 24 hours. Top mining pools have been affected. The amount of mining power backing Bitcoin fell by 16.94% in the last 24 hours after authorities from China’s Sichuan province pulled the plug on 26 mining farms. Falling hashrates can hurt Bitcoin’s price. In April, outages in Xinjiang cut Bitcoin’s hashrate by 30% and contributed to a $10,000 decline in Bitcoin’s price . This time, Bitcoin fell 5.71%...