Chinese government leaves Yunnan miner without power
Apparently the decision corresponds to economic interests and coincides with a 24-hour drop in the global hash rate
As specified in a recently published report, the Chinese government has ordered to suspend electricity to bitcoin miners belonging to Yunnan province.
The measure orders the electricity companies to stop supplying energy to the mining activity in the area in order to minimize the important sector, and according to the information it is due to economic interests on the part of the State.
According to what was expressed in a tweet by a local journalist named Wu Blockchain, several miners informed him “that in Boashan, Yunnan, where the cryptocurrency miners are located, they received an order prohibiting services in which they prevent the company from electricity stop supplying power to miners. Yunnan is the third location with the largest number of miners only behind Sichuan and Xinjiang”.
Economic interests
In another tweet, the journalist added that economic interests are allegedly being dealt with where he assures: “It is not necessary to overestimate the impact of this incident. The attitude of local Chinese power companies towards crypto mining is often changing. It is more a demand for economic interests than political pressure ”.
Additionally, the ban appears to coincide with the 24-hour drop in the global hash rate from roughly 10% from 140 exahashes per second to 125 EX per second, although the correlation is far from causal.
K.Villarroel
Source: diariobitcoin
