Chinese mining pools’ hash power plummets amid regional blackouts

The hash performance of large bitcoin mining pools in northwest China appears to have dropped due to a regional power outage for security checks.

This was reported by Wu Blockhein, author of the Chinese crypto newsletter Wublock, who saw a significant drop in hash values in several major pools – with Antpool down 24.5%, Binance Pool down 20%, down 18.9% and Poolin down 33%.

The hashrate of bitcoin mining pools collapsed in 24 hours. Antpools is down 24.5%, is down 18.9%, Poulin is down 33% and Financial Pools is down 20%. That’s because there’s a total blackout on security checks in northwest China

– Wu Blockchain (@WuBlockchain) April 16, 2021

According to an article in the Chinese media outlet Wu Talk, the safety of power outages in the Xinjiang region is currently undergoing a thorough review.

The inspections follow the recent flooding of a coal mine in Xinjiang, which temporarily trapped 21 miners in three different locations. The mine suddenly flooded during a technical upgrade, causing communication and power outages underground. Nearly 1,500 rescue workers were sent to the mine to deal with the emergency.

Xinjiang is a major source of global hash bitcoin consumption. The Cambridge Bitcoin Energy Consumption Index, or BECI, estimates that the region currently accounts for about 36% of China’s total hashing capacity. With China accounting for two-thirds of the world’s mine production, BECI estimates that Xianjiang accounts for 23.3% of the world’s hashish production.

According to Ycharts, outages on the bitcoin network have dropped 2.2 percent in the past 24 hours, from 169.4 million terahas per second (TH/s) to 165.8 TH/s at this time.

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