China’s Sichuan Asks Bitcoin Miners To Shutdown Operations
According to reports, Sichuan’s Ya’an municipal government has asked Bitcoin miners to shutdown operations in the city. None of the three local sources available at the moment mention how long the crypto mines will remain closed. Chinese crypto media outlet PANews says, Officials from related authorities, including the city’s energy bureau and technology bureau, had […]
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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....
Officials in Sichuan, a major bitcoin mining hub in China, have reportedly issued a shutdown order for bitcoin mining operations there.
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....
Bitcoin’s hashrate plummets to roughly 91 EH/s as Sichuan miners close up shop. Bitcoin’s hashrate has fallen to its lowest levels since early November as mining operations in China start unplugging.Bitcoin’s network hashrate, a measure of its computational horsepower, has slumped 46% since its peak level in mid-May. According to Bitinfocharts, Bitcoin hashrate is currently 91.2 EH/s (quintillion hashes per second), close to half of its 171.4 EH/s high posted less than six weeks ago.Bitinfocharts has also reported a drop in mining profitability from a peak of $0.449 USD per day per....
Bitcoin’s global hashrate dropped ten days ago following a coal mine accident that caused significant grid blackouts in Xinjiang, China. While initial estimates had shown more than 40% of the hashrate dropped, statistics from a five-day average show the hashpower only lost around 25%. Meanwhile, Chinese miners located in Sichuan may put more pressure on hydropower resources, as province officials have revealed electricity rates are scheduled to increase 150% this year. Sichuan Electricity Trading Division Report Notes Electrical Prices in the Region Will Increase by 150% Mining....