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An official notice from the government of Changji Prefecture in Xinjiang states that officials at Zhundong Economic and Technological Development Park must order bitcoin miners to shut down. China’s Xinjiang Province is a highly concentrated region of bitcoin miners and bitcoin activity in the park is due to cease by June 9, according to the document. Nonetheless, the Bitcoin network hash rate has been considerably higher today than the average rate of last week.
Development Park Bitcoin Miners in Xinjiang said to cease operations following meeting of Sichuan energy officials
There have been a number of reports out of China which indicate that Chinese government officials haven’t been very interested in the crypto mining industry lately. Bitcoin.com News has covered a number of country-related reports showing a possible crackdown on bitcoin mining in mainland China.
For example, Huobi and Okex revealed that companies would restrict some services to Chinese residents, and then Btc.top and Hashcow halted their services to China. Rumors of “cheap” mining rigs surfaced and talk of a massive exodus of Chinese miners migrating to Central Asia began to spread.
The Block’s Wolfie Zhao on Wednesday reported on a notice seen and verified by the publication that indicates the closure of a development park intended solely for bitcoin mining operations.
“According to the notice seen and verified by The Block, development park officials were ordered to shut down all crypto mining activities under their administration on Wednesday by 2:00 p.m. Chinese time,” Zhao details in the report. The development park in question happens to be Zhundong Economic and Technological Development Park.
Statistics show that there is a high concentration of bitcoin miners located in Xinjiang and Sichuan. The amount of hash power located in either region is unknown, but many people assume that this is a lot of processing power.
Interestingly, the advice Zhao obtained follows a recent meeting of Sichuan energy officials that planned to discuss the implications of bitcoin mining in that province. In addition, a number of Chinese mining companies have explained that operations could move overseas if the crackdown persists.
Bitcoin Hashrate Rises, Top Five Mining Pools Come From China
Despite the opinions and Chinese government officials talking about bitcoin mining, the network’s overall hashrate has increased dramatically. On June 9, 2021, Bitcoin’s hashrate jumped to 180 exahash per second (EH / s) after hovering just above the 150 EH / s range last week.
Funnyly, the top pools of China Poolin, F2pool and Antpool have been battling for the number one position over the past few weeks with a few shuffles for first place along the way.
Today, Poolin controls 15.2% of the Bitcoin hashrate, F2pool captures 14.5% and Antpool has around 13.1%. The top five pools dealing with SHA256 blocks on the BTC chain today are all from China.
What do you think of the notice to bitcoin miners operating in Zhundong Economic and Technology Development Park? Let us know what you think of this topic in the comments section below.
Tags in this story Bitcoin (BTC), Bitcoin mining, BTC, Changji Prefecture, China, Chinese mines, Miners, regional report, Sichuan, Wolfie Zhao, Xinjiang, Xinjiang bitcoin miners, Xinjiang China, Xinjiang miners
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