Just saw a tweet (see my edit) someone shared about China having blackouts in Xinjiang that affects the Three Gorges Dam and in return the hash rate; and while googling a bit, another story claimed it could be accidents at coal mines. Sounds like mixed stories since one claimed it’s hydro power affecting it and another coal.
Anyway moving to my point, it sparked a debate with someone saying BTC price will plummet if we lose those miners. Is this true?
My understanding is that the network can and will adjust the difficulty to accommodate the available miners, so if we lose some it shouldn’t affect the network and/or price too adversely – at least in the long run once the news and panic settles.
Is this true? My knowledge is limited so genuinely asking for more expert input.
Edit: [here’s the tweet](https://twitter.com/caprioleio/status/1383471125393408001?s=21) and it appears it’s based on ATH hash rate. Sorry, not trying to spread FUD, my question is aimed at the network design regardless of what’s true in the news.