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Following the report that said specific Chinese miners in the Xinjiang region have been urged by officials to shut down, another Qinghai agency informed the miners to cease operations in a recently released government warrant. Likewise, the document from the Qinghai Industry and Information Technology Department explains that bitcoin mining operations cannot operate in the region.
Qinghai Province Warns Bitcoin Miners to Cease Operations Beijing’s crackdown on bitcoin mining appears to be spreading. It started two weeks ago after a few accounts from Inner Mongolia noted that the region’s top economic planner revealed new rules against the exploitation of bitcoin mining facilities in the region. Problems with bitcoin mining in Inner Mongolia turned out to be the first enforcement action against crypto mining. Reports explaining the government’s plans to shut down mining operations in Inner Mongolia began to surface during the first week of March 2021. At the end of May 2021, the Sichuan Energy Regulatory Bureau planned to hold a meeting on June 2 to discuss the implications of bitcoin. mining. At the time of writing, no bitcoin mining ban report has emerged from this report for Sichuan Province. On Wednesday, June 9, 2021, a report revealed that specific Xinjiang bitcoin miners had been ordered to shut down. The document from the Qinghai Industry and Information Technology Department. On the same day, regional reports explained that China’s Qinghai Province issued a notice to bitcoin miners ordering operations to immediately halt mining operations. The notice comes from the Qinghai Industry and Information Technology Department. He notes that companies will be inspected, existing mining projects must be suspended and no mining company will be allowed to mine virtual currencies in the province. Speaking on the topic, regional reporter Colin ‘Wu’ Blockchain tweeted about provinces densely populated by bitcoin miners. “There are three major mining regions in China. Inner Mongolia has come to a complete stop, Sichuan may not stop, so the situation in Xinjiang is more complicated. The term used in the document is to suspend for rectification, which is not as strict as Inner Mongolia, ”the Chinese journalist detailed.
Bitcoin’s overall network hashrate has fallen since the Xinjiang shutdown was announced. At the time of this report, the hashrate was approximately 180 exahash per second (EH / s). At the time of writing, Bitcoin’s SHA256 hashrate has dropped to 120 EH / s.
What do you think of reports that Qinghai officials are cracking down on minors in the area? Let us know what you think of this topic in the comments section below.
Tags in this story Bitcoin mining ban, Mining ban, Beijing, Bitcoin miners, Bitcoin mining, BTC miners, BTC Mining, China, China ban, China Mining, Chinese miners, Colin Wu Blockchain, Inner Mongolia, Qinghai, Qinghai Province, sichuan, sichuan province, Xinjiang
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