I read those reports from Baidu on "coin mining disaster".
Many farms in China already running at very low margin or at a loss.
Power might be low but when you include other operations costs like hiring people, money to ensure authorities don't always do "environmental inspection" on factory space, system uptime, hminign hash difficulty , internet lag etc. For some, they even need to pay hosting/management fee which can be as high as 3 sen per KW.
Only very large self own farms are still operating with profit.
Its not that rosy anymore in china.
Btc difficulty drop might be due to people renting SHA256 hash to fight the civil war, but massive drop in ETH mining difficulty proves that there are many farms shutting down.
What if ETH price fall below 100? Will the difficulty hash drop to less than 2000T? hehehe...

Difficulty drop from about 36xxx to 24xxx now...
Eth inflation is way too high and the eth devs kept pushing back their roadmap which makes it worse. The reduction in block rewards cant come fast enough.
The eth ico holders must be really upset with the dilution of their ether.