Advertisement
AD

Main navigation

China Requires Miners in Strategic Energy Region to Shut Down Operations Today, Community Expects BTC Hash Rate Drop

Advertisement
Wed, 9/06/2021 - 8:14
China Requires Miners in Strategic Energy Region to Shut Down Operations Today, Community Expects BTC Hash Rate Drop
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents
Advertisement

The Chinese region of Xinjiang clamps down on local miners, requiring local mining companies to discontinue operations by 2:00 p.m. local time today, June 9, for rectification.

8024_0
Image via Twitter

China's shutting down crypto mining in a "strategic energy region"

Xinjiang is often called China's "strategic energy region" for its vast natural gas, coal and other fossil resources. Now, a drop in the Bitcoin hash rate may be expected after miners in this region shut down their equipment.

The news was shared by Blockbeats, the outlet that follows blockchain and crypto news in China.

The order to the miners was issued by the Changji Prefecture Development and Reform Commission. Once the work of the rigs is suspended, miners should report this to the commission.

Chinese crypto influencer and founder of Primitive Ventures, Dovey Wan, has tweeted that Xinjiang is now following Inner Mongolia's example in shutting down Bitcoin mining.

She calls Sichuan province the "last hope" for miners in China now. She now expects Chinese authorities to start action against crypto trading, including OTC, and believes that this mining ban should have been priced in.

Related
Bitcoin Mining May Be Harmed as China Seeks to Call Off Energy-Consuming Projects: Insider Colin Wu

China's goal to reduce the CO2 emissions

As reported by U.Today earlier, Chinese president Xi Jinping had announced that, starting in 2026, China will begin to call off high-energy-consuming projects in order to reduce the carbon footprint produced by the country's industries.

Cryptocurrency mining is among the "projects" that are being clamped down on already, which is making some miners leave China for other jurisdictions with friendlier laws and cleaner, cheaper energy sources.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
ApeX Protocol Partners with Alertatron to Enhance Automated Trading Capabilities
TeachMeCode Institute Announces Grand Opening of Cutting-Edge Dubai School
RHUNA Launches to Revolutionize the Events and Entertainment Industry with Fintech Innovation
Our social media
There's a lot to see there, too

Popular articles