Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut...

Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut...

An official notice stemming from the Changji prefecture government in Xinjiang details that officials from the Zhundong Economic-Technological Development Park must instruct bitcoin miners to shut down. China’s province of Xinjiang is a highly concentrated region of bitcoin miners and bitcoin activities at the park must cease by June 9, according to the document. Nevertheless, the Bitcoin network’s hashrate has been considerably higher today than last week’s average rate. Development Park Bitcoin Miners in Xinjiang Told to Cease Operations Following Sichuan Energy....


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China’s Qinghai Province Instructs Bitcoin Mining Operations to Shut Down

Following the report that indicates specific Chinese miners in the Xinjiang region were told by officials to shut down, another agency in Qinghai has informed miners to cease operations in a recently published government mandate. Similarly, the Qinghai Industry and Information Technology Department’s document explains bitcoin mining operations cannot operate in the area. Qinghai Province Gives Bitcoin Miners Notice to Cease Operations Beijing’s crackdown on bitcoin mining seems to be spreading. It started two weeks ago after a few accounts stemming from Inner Mongolia noted....

City in Sichuan reportedly orders crypto miners to shut down for investigation

Crypto miners in Ya'an City have reportedly been ordered to temporarily shut down their operations. Chinese authorities continue to crack down on cryptocurrency mining as a city in Sichuan province has reportedly halted local Bitcoin (BTC) mining farms.Authorities in Ya’an City, a prefecture-level city in the western part of Sichuan province, have ordered local Bitcoin mining operations to shut down for examination, Chinese financial publication Sina Finance reported Friday.Citing an anonymous source from Chinese news agency PA News, the report said that it is unclear when or whether....

Officials in Sichuan Instruct Bitcoin Miners to Shut Down Operations: Report

According to regional reports, bitcoin miners in Sichuan have been told by the Ya’an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it’s estimated that a large demographic of miners are situated in the region. Sichuan Ya’an Energy Bureau Tells Bitcoin Miners to Close Shop Sichuan power plants have been told to stop servicing bitcoin miners in the area according to reports stemming from the Ya’an municipal government. The regional publication Panews was told by an “insider” that....

FTC Reports Butterfly Labs Mined on Customers' Bitcoin Miners

A week ago, the Federal Trade Commission (FTC) shut down Butterfly Labs (BFL), one of the reasons for this being that "consumers who have purchased the machines or services cannot use them to generate Bitcoins because Defendants [Butterfly Labs] never provide them with the machines or services." The FTC released new court filings today for its Butterfly Labs case. The most recent report by the FTC against Butterfly Labs is that they mined for bitcoins on their customers' miners before shipping them (if they even shipped them at all), and didn't tell the customer: Fraud. New Evidence....

Governments can stop Bitcoin by shutting down mining, says Electric Capital exec

"If the U.S. stopped all the U.S. miners, Kazakstan stopped all the miners there — that kind of shuts down 80% to 90% of the hash rate pretty quickly," said Curtis Spencer. Electric Capital co-founder and partner Curtis Spencer implied that the Bitcoin network may owe its continued existence to the grace of world governments. In a panel at the Collision web summit on Tuesday, Spencer said lawmakers are the ones giving Bitcoin (BTC) a chance to grow by not imposing harsher restrictions on mining operations in their respective countries. The Electric Capital executive was speaking on the....