Former co-chairman of Canaan Technology's board: Recently, about 400,000 Bitcoin mining machines in Xinjiang, China have been shut down

Former co-chairman of the board of directors of Canaan Creative, now founder and chairman of Nano Labs, Kong Jianping, quoted his previous tweet stating "Bitcoin mining farms in Xinjiang are gradually shutting down." He indicated that, in light of the recent decline in Bitcoin's hash rate, an average of 250 T (hash rate calculation) per machine suggests that at least 400,000 Bitcoin mining machines have shut down recently.

According to previous reports, market sources indicate that the total Bitcoin network hash rate is currently reported at 988.49 EH/s, a decrease of 17.25% from the same time last week. Notably, in November, foreign media reported that Bitcoin mining activities have become active again in regions such as Xinjiang, China. By the end of October 2025, China's Bitcoin mining hash rate share has rebounded to about 14% (the third largest in the world). Subsequently, on the 28th, the People's Bank of China led thirteen departments to deploy a special rectification campaign to combat virtual currency trading speculation.