Bitcoin Hashrate Sees Sharpest Post Halving Drop Since 2024 Amid China Machine Shutdowns

Recent reports indicate that around 400,000 Bitcoin mining machines have been shut down in China, resulting in the sharpest drop in Bitcoin hashrate since 2024. This has severe implications for Chinese mining operators and could impact the overall stability of the Bitcoin network. Moreover, concerns about Bitcoin supply and its price are rising due to this development. The decline in hashrate reflects the activity levels of the mining sector, which has shown sensitivity to recent price fluctuations. Historical data suggests that large-scale shutdowns of mining machines have led to supply-side shocks, prompting rapid price surges or declines. As barriers to entry remain high, a loss of mining interest among operators could exert additional pressure on prices. This situation represents a critical change that investors should closely monitor. The market's response and the future price trajectory of Bitcoin will become focal points.