The hashrate of the Bitcoin network is experiencing a free fall across several important Chinese mining pools. f2pool lost 11,26%, antpool recorded a decline of 16,23%, Binancepool lost 14,38%, and Huobipool registered a loss of 23,68%. The decline is believed to be caused by the power outage in the Sichuan province with many hoping that things will soon get back to normal.
This decline in the mining pool’s hashrate actually comes just a couple of days after a new ATH in Bitcoin’s network mining hash power was reached. Meanwhile, the price of Bitcoin has also fallen, currently being placed at around $43,000, as a result of Elon Musk announcing that Tesla won’t accept Bitcoin anymore.
A similar power outage took place in China a month ago, which made the Bitcoin mining hash rate fall by more than 25%, which, in turn, led to another important market sell-off.