Sichuan Authorities Instruct Bitcoin Miners to Shut Down Operations: Report

According to regional reports, bitcoin miners in Sichuan have been told by Ya'an Municipality to cease their activities until June 25. Sichuan has recently come under close scrutiny as a large miner demographic is estimated to reside in the area. Sichuan Ya'an Energy Bureau says Bitcoin miners should close shop According to reports from the Ya'an municipal government, Sichuan power stations have been told to stop operating bitcoin miners in the area. An "insider" told regional publication Panews that the Sichuan Ya'an Bureau of Energy and the Bureau of Science and Technology met over the decision and reached a decision to "clean up and shut down bitcoin mining companies in Ya'an." "Sichuan #bitcoinmining banned from June 25. This is a bad translation, but official documents. Medium to large farms will not get power, smaller farms will likely be targeted later. China is done with #bitcoin, so RIP Chinese miners pic .twitter.com/m0bB9wdLy3 — Miner Daily (@DailyMiner) June 18, 2021 Panews report says all mines must be shut down by June 25, which includes shutting down hydropower plants. Blockchain reported the incident on Twitter. Reporter, "June 18." In addition, Sichuan has issued an official document demanding that power generation companies immediately stop powering virtual currency mining and report the relevant situation on the 25th. The document identified 26 major mining projects and needed to be monitored and shut down. Currently, Bitcoin and Ethereum's its hashrate does not fluctuate.There are many small and medium-sized hydropower plants in Yunnan, Sichuan and it may be difficult for them to get government oversight. In addition, large-scale projects will be closed in the short term. There have been several reports during LA

Join the Discussion

  • BrokerEUR/USD
    Core Spreads 0.6pips (variable) margin: 3.33%
    LCG 0.3pips (variable) margin: 3.33%
  • Back to top