Miners Unable to Sell Their Bitcoin as China Freezes Accounts
China has closed off many Over the Counter (OTC) selling pipelines for bitcoin and crypto miners according to local reports.
A significant number of miners have been unable to cash out for a month, leaving them in a very difficult position regarding the hefty energy costs of mining.
That may explain a massive plunge in bitcoin’s hashrate earlier this month, down from 146 exahashes to 106 exahashes per second with it not fully recovering so far.
Learn more about the news here. (https://www.trustnodes.com/2020/11/18/miners-unable-to-sell-their-bitcoin-as-china-freezes-accounts)