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China’s Qinghai Province Directed to Shut Down Bitcoin Mining Operations – Mining Bitcoin News


Following reports indicating specific Chinese miners in the Xinjiang region were asked by authorities to shut down, another agency in Qinghai has notified miners to cease operations in a recently published government mandate. Similarly, documents from the Qinghai Department of Industry and Information Technology show that bitcoin mining operations cannot operate in the region.

Qinghai Province gives notice to bitcoin miners to cease operations

  • Beijing’s crackdown on bitcoin mining seems to be spreading. It started after sometime two weeks ago Accounts The region’s top economic planner stemming from Inner Mongolia unveiled new rules against operating bitcoin mining facilities in the region. The bitcoin mining problem in Inner Mongolia proved to be the first enforcement measure against crypto mining.
  • reports Explanations of the government’s plans to shut down mining operations in Inner Mongolia began to emerge during the first week of March 2021.
  • At the end of May 2021, Sichuan Energy Regulatory Office planned To hold a meeting on June 2 to discuss the implications of bitcoin mining. At the time of writing, there have been no reports of a ban on bitcoin mining coming from this report relating to Sichuan province.
  • On Wednesday, June 9, 2021, a report good Exclusive bitcoin miners exposed in Xinjiang instructed to close.
China's Qinghai Province Directed to Shut Down Bitcoin Mining Operations
Documents of Qinghai Industry and Information Technology Department.
  • same day, regional report explained that China’s Qinghai Province notice issued To instruct bitcoin miners to stop mining operations immediately.
  • The notice stems from Qinghai Industry and Information Technology Department. It notes that businesses will be inspected, existing mining projects must be suspended and that no mining companies will be allowed to mine virtual currencies in the province.

  • Speaking on the topic, regional reporter Colin ‘Wu’ Blockchain tweeted What about the provinces that are densely populated with bitcoin miners. “China has three major mining areas. Inner Mongolia is completely closed, Sichuan cannot stop, so the situation in Xinjiang is more complicated. The word used in the document is to suspend reform, which is as much as Inner Mongolia. Not strict, ”the Chinese journalist elaborated.

China's Qinghai Province Directed to Shut Down Bitcoin Mining Operations

  • Bitcoin’s overall network hashrate has since fallen shut down Announcement in Xinjiang At the time of that report, the hash rate was around 180 exhash per second (EH/s). At the time of writing, bitcoin has a SHA256 hash rate. Dropped to 120 EH/s.

What do you think about reports that say Qinghai authorities are cracking down on miners in the region? Let us know what you think about this topic in the comment section below.

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