Bitcoin Hashrate Plummets After Halving: Largest Drop Since 2024 Linked to China Miner Shutdowns

The Bitcoin network has experienced its most significant hashrate decline following a halving event since 2024. Data indicates a sharp reduction in computational power securing the blockchain. This substantial drop is primarily attributed to widespread shutdowns of mining machines in China, as older and less efficient hardware becomes unprofitable post-halving. The Bitcoin halving, which cut miner rewards from 6.25 to 3.125 BTC, has intensified pressure on mining operations globally. While a short-term hashrate correction was anticipated, the scale of this drop highlights the immediate impact of the reward reduction and regional regulatory pressures. Network analysts are monitoring the situation to see if the hashrate stabilizes or recovers as miners relocate or upgrade their equipment.