{"id":8437,"date":"2021-06-18T12:54:39","date_gmt":"2021-06-18T12:54:39","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/officials-in-sichuan-instruct-bitcoin-miners-to-shut-down-operations-report\/"},"modified":"2021-06-18T12:54:39","modified_gmt":"2021-06-18T12:54:39","slug":"officials-in-sichuan-instruct-bitcoin-miners-to-shut-down-operations-report","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/officials-in-sichuan-instruct-bitcoin-miners-to-shut-down-operations-report\/","title":{"rendered":"Officials in Sichuan Instruct Bitcoin Miners to Shut Down Operations: Report"},"content":{"rendered":"

According to regional reports, bitcoin miners in Sichuan have been told by the Ya\u2019an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it\u2019s estimated that a large demographic of miners are situated in the region.<\/strong><\/p>\n

Sichuan Ya\u2019an Energy Bureau Tells Bitcoin Miners to Close Shop<\/h2>\n

Sichuan power plants have been told to stop servicing bitcoin miners in the area according to reports stemming from the Ya\u2019an municipal government. The regional publication Panews<\/a> was told by an \u201cinsider\u201d that the Sichuan Ya\u2019an Energy Bureau and the Science and Technology Bureau held a meeting about the decision and came to a resolution to \u201cclean up and rectify bitcoin mining companies in Ya\u2019an.\u201d<\/p>\n

Sichuan #bitcoinmining<\/a> bans from 25 June. This is a poor translation, but it is the official documents. Medium to large farms will not be allowed power, smaller farms will likely be targeted later.<\/p>\n

China is done with #bitcoin<\/a> for good it seems. RIP China miners. pic.twitter.com\/m0bB9wdLy3<\/a><\/p>\n

\u2014 Miner Daily (@DailyMiner) June 18, 2021<\/a><\/p>\n<\/p>\n

The Panews report further says that all mines need to shut down on June 25 and it includes abandoning hydropower plants as well. Additionally, the Chinese journalist Colin \u201cWu\u201d Blockchain reported on the incident on Twitter.<\/p>\n

\u201cOn June 18, Sichuan officially issued a document requesting power generation companies are required to immediately stop supplying power to any virtual currency mining, and report the relevant situation on the 25th,\u201d the reporter noted. He further added:<\/p>\n

The document identified 26 large mining projects and required to be monitored and shut down. At present, the hashrate of Bitcoin and Ethereum has not fluctuated. There are many small and medium-sized hydropower stations in Yunnan, Sichuan, and it may be difficult for them to receive government supervision. However, large-scale projects will be shut down in the short term.<\/p>\n

<\/p>\n

There have been various reports during the last few weeks noting that a number of provinces in China have been cracking down on bitcoin mining. Many of these reports have been sharing the Cambridge Center for Alternative Finance index map which claims to show 65% of the Bitcoin network\u2019s hashrate resides in China. However, the CBECI hashrate map is not reliable whatsoever, as the map has not been updated since April 2020.<\/p>\n<\/p>\n

Bitcoin\u2019s hashrate has been sliding in recent weeks and fluctuating wildly as well. Miners from China have seen lots of shuffling among pools in terms of bitcoin hashrate distribution. At the time of writing, the hashrate is around 120 exahash per second (EH\/s) after being above 140 EH\/s six hours ago.<\/p>\n

What do you think about Sichuan province shutting down bitcoin miners in the region? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Antpool, Bitcoin China, Bitcoin mining, BTC.com, China, China Bitcoin, Chinese Government, chinese miners, Colin \u2018Wu\u2019 Blockchain, F2Pool, Mining Regulation, Poolin, Regulation, Sichuan Energy Regulatory Office, Sichuan miners, sichuan province, ViaBTC, Xinjiang region<\/p>\n","protected":false},"excerpt":{"rendered":"

According to regional reports, bitcoin miners in Sichuan have been told by the Ya\u2019an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it\u2019s estimated that a large demographic of miners are situated in the region. Sichuan Ya\u2019an Energy Bureau Tells Bitcoin Miners…<\/p>\n","protected":false},"author":0,"featured_media":8438,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8437"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8437"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8438"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}