This is the second most dense province in China, and most miners are located here according to data from the University of Cambridge. Xianjiang being the province with the most hashrate.
As reported by a regional publication, the Sichuan Development and Reform Commission and Energy Bureau has announced that it would close the operation of 26 suspected cryptocurrency mining and virtual currency projects on Sunday.
China may lost its last space for #Bitcoin mining.
Sichuan Development and Reform Commission and Energy Bureau issued a notice today, requires to shutdown 26 "suspected key projects" of virtual currency mining before June 20. pic.twitter.com/UI4jdMS48E
— 8BTCnews (@btcinchina) June 18, 2021
Sichuan has become the fifth Chinese province that is shutting down cryptocurrency mining related projects. Prior to this development, Inner Mongolia and Yunan also ordered similar closures. Miners in Xianjiang and Zhundong were also forced to turn off their machines.
Statement from mining insiders point to situation being dire for big mining operations, as these are the most affected due to their inability to move their operations elsewhere quickly.
All this has meant that Bitcoin hashrate is now hovering just above 100 exahash per second (EH/s), almost 50% under its all-time high.
However, this crackdown on Bitcoin mining has spurted opportunities for mining in other locations. Countries that have abundance of cheap energy and power are inviting miners to set up shop, and some mining operations are already flocking to these regions.
In particular, Kazakhstan.
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