Miners Unable to Sell Their Bitcoin as China Freezes Accounts

[sneakyboi]

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.