A historic day! Bitcoin Mining in China's Sichuan Province Loses Power Collectively
A number of China's major"mining" provinces have recently opened their doors to corresponding rectification actions. For example, Inner Mongolia, Xinjiang, Qinghai and other places have issued the latest regulatory policies for"mining".
This time a Sichuan Provincial Development and Reform Commission, Sichuan Energy Bureau issued a"notice on the cleanup and shutdown of virtual currency"mining" project", the State Grid Sichuan Electric Power Company has been investigating the 26 suspected virtual currency"mining" project reported to the state, by the relevant city (state) government-led, State Grid Sichuan Electric Power Company, the provincial energy investment group to cooperate, in June 20 to complete the screening cleanup and shutdown work; in June 25 to complete a comprehensive cleanup and investigation, shut down the suspected project work.
According to reports, Sichuan is the largest gathering place for bitcoin miners in China and the world, with a load of about 8 million being used for cryptocurrency mining.
Data from btc.com shows that the current bitcoin network-wide average arithmetic power of 126.83EH/s has dropped nearly 36% compared to the historical high of 197.61EH/s (May 13). At the same time, Huobi Pool, Binance, AntPool and Poolin, bitcoin mining pools with Chinese backgrounds, have seen a sharp drop in arithmetic power, with 36.64%, 25.58%, 22.17% and 8.05% drop in arithmetic power in the last 24 hours respectively.
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