Sichuan officials instruct bitcoin miners to cease operations: report – Bitcoin News
According to regional reports, Bitcoin miners in Sichuan have been told by the Ya’an city government that they have until June 25 to cease operations. Sichuan has been closely watched recently as it is estimated that the area is home to a large population of miners.
Sichuan Ya’an Energy Bureau urges Bitcoin miners to close stores
The power plants in Sichuan have been ordered to stop servicing the bitcoin miners in the area, reports from the Ya’an municipal government indicate. The regional magazine Panews was told by an “insider” that the Sichuan Ya’an Energy Bureau and the Science and Technology Bureau had held a meeting on the decision and had come to a conclusion that “Bitcoin mining companies in Ya’an should be closed.” clean up and correct. ”
Sichuan #Bitcoinmining Bans from June 25th. This is a bad translation, but it is the official documents. Medium to large farms will not receive electricity; smaller farms will likely be targeted later.
China is done with #bitcoin for good it seems. RIP China miners. pic.twitter.com/m0bB9wdLy3
– Bergmann daily (@DailyMiner) June 18, 2021
The Panews report goes on to say that all mines must close on June 25th, and that includes the abandonment of hydropower plants. In addition, the Chinese journalist Colin “Wu” Blockchain reported on the incident on Twitter.
“On June 18, Sichuan officially issued a document urging power generation companies to immediately stop supplying power to virtual currency mining and to report the situation on the 25th,” the reporter noted. He further added:
The document identified 26 large mining projects that needed to be monitored and shut down. At the moment, the hashrate of Bitcoin and Ethereum does not fluctuate. Yunnan, Sichuan has many small and medium-sized hydropower plants that may be difficult to obtain government supervision. However, major projects will be discontinued at short notice.
There have been various reports in the past few weeks finding that a number of provinces in China have cracked down on Bitcoin mining. Many of these reports have shared the Cambridge Center for Alternative Finance’s index card, which claims that 65% of the Bitcoin network’s hashrate is in China. However, the CBECI hashrate map is in no way reliable as the map has not been updated since April 2020.
Bitcoin’s hash rate has slipped in the last few weeks and is also fluctuating a lot. Miners from China have seen many changes between pools in terms of bitcoin hashrate distribution. At the time of this writing, the hashrate is around 120 exahash per second (EH / s) after it was over 140 EH / s six hours ago.
What do you think of Sichuan Province closing bitcoin miners in the area? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, CBECI, Sichuan map,
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
source https://bidsfor.me/sichuan-officials-instruct-bitcoin-miners-to-cease-operations-report-bitcoin-news/
Comments
Post a Comment