Bitcoin's hashrate has plummeted by 100 EH/s, marking an 8% decrease, according to Kong Jianping, founder of Nano Labs. This decline is attributed to the shutdown of Bitcoin mining farms in Xinjiang, as reported by PANews. Kong noted that with an average hashrate of 250T, at least 400,000 mining machines have ceased operations. The drop in hashrate comes amid high network difficulty, which has rendered many older mining machines unprofitable. Data from F2Pool indicates that these machines have fallen below their shutdown price, exacerbating the situation for miners relying on outdated equipment.