[ad_1]
The Bitcoin ban is spreading across the territory of China. Recently, Yunnan province is the next name to be “touched” by the government in this purge.
Most Bitcoin mining operations have been shut down in China. Started in Inner Mongolia, Xinjiang, expanded to Qinghai and now Yunnan province.
Despite some inaccuracies a few days ago regarding the crypto mining ban in Yunnan, a spokesperson for Yunnan’s energy department finally confirmed to several sites. legitimate web site, that they want all miners to leave by the end of June. Several miners have also confirmed this in the crypto group at WeChat.
By the end of June, all Bitcoin mining activities must be scrutinized. Any activity that uses electricity without permission must be stopped. A lot of miners appear to have quit, contributing to the drop in mining rates on the Bitcoin blockchain that was noticed on June 11.
Bitcoin’s entire network’s hashrate dropped by 20E. Due to the decrease, Bitcoin has not produced blocks for 1 hour and 45 minutes. pic.twitter.com/kWnUhn9lwB
— Wu Blockchain (@WuBlockchain) June 11, 2021
See more: Chinese Bitcoin Miners Face Difficulty When Experiencing A Huge Drop in Hash Rate
In China, there are large mining operations in Xinjiang and Sichuan and smaller in Yunnan. The recent crackdown seems to be mainly aimed at the major mining hub. Because it will be difficult to recover because these are the backbone of the mining operation.
Other than Yunnan, Sichuan is the only province where the government has actually called for a face-to-face meeting with top miners to discuss the situation before pulling the same plug on other provinces.
Indeed, to date, no immediate plan to ban mining has been announced, which may be due to the huge amount of hydroelectricity produced in the province. The local government is collecting a super tax on profits before the miners cut off the power.
Synthetic
Maybe you are interested:
[ad_2]
