In China, 64 mining farms will be closed

In China, 64 mining farms will be closed

By Kluma | InterestingCrypto | 2 Jun 2020


Local authorities are increasing pressure on the business of extracting digital money. In the provinces of Yunnan and Sichuan, miners negotiate tariffs directly with hydroelectric power plants, this practice remains in the "gray" zone and is not profitable for the government

The administration of the Dehong-Dai-Kachin Autonomous region in the Western part of Yunnan province held a meeting on the issue of closing mining farms on its territory. According to 8btc, liquidation orders were issued to 57 big data projects that mine bitcoin and do not have a license from the authorities. Also, 7 sites that are currently under construction are subject to elimination.

On April 13, the state-owned Yunnan electric grid company issued a statement calling for an end to illegal and unauthorized electricity use in the province. In the region, miners directly negotiate tariffs with power plants, most often it is about selling excess energy. This practice remains in the "grey" zone.

8btc sources report that some miners put their farms up for sale due to the deterioration of the situation in the region. At the end of may, the authorities of the Chinese province of Sichuan demanded to ban cryptocurrency mining. Otherwise, the administration promised to launch an investigation and deal with illegal construction, take bans, fines and other measures, including orders to demolish buildings independently.

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