Jumping Kong Jianping Warns: Bitcoin Mining Equipment Faces Mass Shutdown Crisis

OnchainSniper · 2026-01-21T18:09:02+00:00

Mr. Jumping Kong Jianping warned that the shutdown of equipment in the Bitcoin mining industry is ongoing, and the hash rate is plummeting. Many older machines are no longer profitable, with over 400,000 units halted, suggesting a possible industry restructuring.

OnchainSniper

2026-01-21 18:09:02

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Mr. Kong Jianping, Founder and Chairman of Nano Labs, pointed out that a serious situation is unfolding on the Bitcoin network. The shutdown of mining equipment is accelerating rapidly, leading to significant changes in the Bitcoin mining industry. Through his analysis, he revealed how severe this phenomenon is.

The Hashrate Drop Indicates a Turning Point for the Mining Industry

According to Mr. Kong Jianping’s latest analysis, Bitcoin mining facilities in Xinjiang Uygur Autonomous Region are shutting down one after another. As a result, the Bitcoin network’s hashrate has rapidly declined, with a decrease of 100EH/s (exahashes per second) confirmed. This represents a substantial drop of about 8% of the entire network’s hashrate.

With the network’s mining difficulty remaining at high levels, older mining equipment is falling below profitability thresholds. Data from F2Pool, a major data pool in the mining industry, also suggests that many existing outdated mining machines are facing operational difficulties.

400,000 Units of Mining Equipment Have Stopped

In his detailed analysis, Mr. Kong converts the scale of the hashrate decline into the number of mining machines. Assuming an average hashrate of 250T (terahashes per second) per machine, it can be calculated that at least 400,000 mining units have ceased operation.

This figure signifies a highly significant impact on the entire Bitcoin mining industry. Due to deteriorating profitability, a wide range of machines—from small-scale miners to large facilities—are shutting down. Mr. Kong Jianping sees this as a potential turning point that could lead to a reorganization of the mining industry.

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