Sichuan Orders National Grid to Cut Supply to 26 Bitcoin Miners

Sichuan, a major Chinese bitcoin mining hub, because of the abundant hydroelectricity, is the most recent state to issue an order to shut down local bitcoin miners.

On June 18, the Sichuan Energy Administration and the Sichuan Development and Reform Commission jointly issued a regulatory record for electricity generation plants under the control of the provincial government.

Based on documents circulating on WeChat, seen and confirmed by The Block, government agencies have outlined two chief measures about the closure of these neighborhood bitcoin miners. The conclusion is regarded as another step in China’s State Council’s try to close down Bitcoin last month.

The steps will directly influence the 26 mining companies which have tried to utilize the authorities, who are already established in specific industrial zones and have registered in order to keep their business. .

First step

The first step requiring subordinate state-owned electricity production and distribution companies would be to cut off hydroelectric power supplies into the 26 units which are thought to be bitcoin mining centers up to now, on May 20. 6 to come.

Earlier this past month, the Sichuan Energy Administration convened a meeting with state power units to describe the amount of energy provided to Bitcoin mining centers and their effect on the marine market. Local power if forced to shut.

Based on the list of 26 businesses attached at the end of the record, in actuality, the majority of them have been licensed to operate in industrial zones in Sichuan.

Sichuan #bitcoinmining bans from June 25. This is a bad translation, but it’s the official documents. Medium to big farms won’t be allowed power, smaller farms will probably be targeted later.

China is done with #bitcoin for good it seems. RIP China miners. pic.twitter.com/m0bB9wdLy3

— Miner Daily (@DailyMiner) June 18, 2021

As of 2020, dozens of bitcoin mining centers, including many on the list above, have been approved to operate in these industrial zones to get a steady supply of electricity from the state grid.

In return, they need to go through a registration process to be registered with the authorities in addition to pay a premium to the local authorities. But maybe it was because of the pre-registration with local police that they became the first victims of the persecution.

Second quantify pháp

There are still a considerable number of bitcoin mining centers in operation Sichuan and Yunnan that get energy from smaller power plants, from sight of the authorities or home-owned power grids. country.

It can also be a part of the reason that the Sichuan authorities prepare the hydroelectric intake park to counter these personal energy prices between smaller power plants and bitcoin mining websites.

As a result, the next step is for two provincial government agencies to inquire state governments in addition to county and city governments to enlarge checks in their networks and instantly cut off supplies. Provide additional mining centers if found.

In the meantime, we still must see to see how this sweep of Sichuan province is going to be completed, according to June 18, as it was declared the Bitcoin hashrate was fine. determined.

Synthetic

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