China Mining Ban & Hash Rate Migration
Code: NT-114
Tags: #bitcoin #mining #policy
Language: en
Situation Report
China intensified crackdowns on coal-powered mining in Inner Mongolia and Sichuan, forcing operators to shut down within weeks. Hash rate fell ~50%, the steepest drawdown since ASIC mining began.
Architecture Notes
Miners scrambled to disassemble containers, ship them to Kazakhstan, Russia, and North America, and secure new power purchase agreements. Firmware teams tweaked auto-tuning to handle unfamiliar grid conditions and higher ambient temperatures.
Operational Impact
North American hosting firms received more demand than they could fulfill, accelerating buildouts in Texas and Alberta. Difficulty adjustments cushioned remaining miners’ revenue, but pool operators had to reorient servers geographically to minimize latency.
Forward Watch
We watched customs clearance times, grid approval for large load additions, and Beijing’s policy statements to gauge whether hash rate decentralization would become permanent.