An official notice from the government of Changjie Prefecture in Xinjiang stated that the authorities of Zhandong Economic-Technological Development Park should instruct bitcoin miners to shut down. According to the document, China’s Xinjiang province is a highly concentrated area of bitcoin miners and bitcoin activities in the park should cease by June 9. Nevertheless, the hash rate of the bitcoin network today is significantly higher than last week’s average rate.
Development Park Bitcoin Miners in Xinjiang Asked to Stop Operations After Sichuan Energy Officials Meeting
There have been several reports from China that suggest that Chinese government officials have not been very keen on the crypto mining sector in the recent past. Bitcoin.com news has covered many reports The country has been linked showing possible crackdown on bitcoin mining taking place in mainland China.
For example, Huobi and OKEx manifest Companies will restrict some services to Chinese residents and then BTC.top and hashko stopped Services to China. rumors of “Cheap” mining rigs surfaced and talks of a mass exodus of Chinese miners to Central Asia began trending.
On Wednesday, Wolfie Zhao from The Block, informed on notice Seen and verified by the publication which indicates that there is a development park directed entirely at bitcoin mining operations.
Zhao said in the report, “According to the notices seen and verified by The Block, development park officials have been instructed to cease all crypto mining activities under their administration by 2:00 PM China time on Wednesday.” Give.” The development park in question happens to be Zundong Economic-Technological Development Park.
Statistics show that there is a deep concentration of bitcoin miners located in Xinjiang and Sichuan. How much hashpower is located in any given area is unknown but many believe it to be too much processing power.
Interestingly, the notice received by Zhao is from a recent Sichuan Energy Officer’s Meeting who planned to discuss the implications of bitcoin mining in that province. In addition, many mining companies in China have Explained If the operation continues, the operations may go abroad.
Bitcoin hashrate rises, top five mining pools stem from China
Despite notices and government officials talking about bitcoin mining in China, the network’s overall hash rate has increased significantly. On June 9, 2021, the hash rate of bitcoin has increased 180 exhash per second (EH/s) last week after hovering just above the 150 EH/s range.
Surprisingly, the top pools from China Poolin, F2Pool and Antpool have been battling for the number one spot during the past few weeks with some reshuffle for the top spot.
Today, Poolin holds 15.2% of the bitcoin hashrate, 14.5% of F2pool, and about 13.1% of Antpool. Top five pools processing SHA256 blocks B T c Chen today, all are from China.
What do you think about the notice to bitcoin miners working in Zhundong Economic-Technological Development Park? Let us know what you think about this topic in the comment section below.
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