Bitcoin Mining Recovers Quickly After China Crackdown Claims, Network Metrics Stay Strong [Yahoo! Finance]
Nano Labs Ltd - Class A Ordinary Shares (NA)
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Source: Yahoo! Finance
Reports of a sweeping Xinjiang crackdown knocking 100 exahashes per second (EH/s) off Bitcoin network have been challenged by pool-level data indicating a much smaller, temporary disruption. The scare began after Nano Labs founder and former Canaan co-chair Jack Jianping Kong posted on X that inspections in Xinjiang had triggered the shutdown of at least 400,000 mining rigs and an 8% drop in hashrate in a single day. The dip in mining power did happen, but numbers from large mining groups show most of it happened in North America, not mainly in China. Foundry USA saw its mining power fall by about 180 EH/s over just a few hours, and another US group, Luxor, saw its mining power drop as well. Together, these made up roughly 200 EH/s of the fall, likely because power was cut during cold weather in some parts of the US. Chinese-origin pools such as Antpool, F2Pool, ViaBTC, SpiderPool, and Binance Pool showed a combined decline of about 100 EH/s, roughly matching the figure circulate
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- Nano Labs Announces Early Repayment of Convertible Bonds to Enhance Risk Management and Protect Investor RightsGlobeNewswire
- Better Crypto to Buy and Hold: Solana vs. BNB [Yahoo! Finance]Yahoo! Finance
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Sec Filings
- 12/17/25 - Form 3
- 12/2/25 - Form 6-K
- 11/26/25 - Form 6-K
- NA's page on the SEC website