Mine cleanup reports scrutinize China's Yunnan province

According to Chinese media reports, authorities in Yunnan have launched an investigation to identify and shut down miners who illegally use electrical power to mint Bitcoin. Audits will also focus on potential security risks and will be carried out by various government departments. The mine cleanup is expected to last until the end of June. Media: Yunnan Energy Bureau Pulls the Plug on Bitcoin Farms Yunnan Province is reportedly joining the crackdown on cryptocurrency mining already going on in other Chinese regions. According to the South China Morning Post (SCMP), local authorities have ordered an investigation into the alleged illegal use of electricity in bitcoin mining. On Sunday, the publication cited a June 12 report from the China Securities Journal published by the Xinhua news agency. The newspaper revealed that the Yunnan Energy Bureau plans to cut electricity to individuals and companies that illegally use electricity in crypto mining facilities or escape electricity bills. In the statement made by the energy administration, it was stated that the security risks identified during the controls would be sufficient to stop the mining activities. The cleanup of the mining sector should be completed by the end of June, Sina reported on Saturday. An official from the energy regulator said the audits will be carried out jointly by several departments. The news source added that mining companies that rely on unauthorized access to electricity or evade transmission and distribution fees will face penalties. The sanctions are also waiting for the electricity producers who support their activities. Yunnan's plans to shut down bitcoin farms were discussed in a Coindesk report Friday, citing Forkast News, which cited a screenshot of a document that appears to be from the Yunnan Energy Bureau. The copy circulated on Chinese social media. Coindesk later corrected the information that "The source of this claim appears to be".

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