Bitcoin Hashrate Experienced Its Biggest Drop After the 2024 Halving

Bitcoin Hashrate Decline

Bitcoin’s 30-day simple moving average hash rate has fallen from approximately 1.1 ZH/s to just above 1 ZH/s, recording the largest decline since the 2024 Halving.

Mining Machine Shutdowns in China

Canaan's former president estimates that around 400,000 mining machines have been deactivated in China. This situation may have significantly impacted the decline in the hash rate.