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China continues to chase Bitcoin Miners

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China continues to chase Bitcoin miners. They could be hidden in data centers in Jiangsu. Bitcoin resists dying in Chinese territory, although it is increasingly difficult to exercise mining.

According to measures that the authorities continue to take, China continues to search underground for Bitcoin miners to terminate its operations immediately.

The eastern province of Jiangsu announced today that it would shut down mining operations for Bitcoin and other cryptocurrencies on its territory .

The Jiangsu Communications Administration (ACJ) said today that it will apply regulatory measures to those miners who, in their presumption, are still operating in disguise in data centers.

The mining farms are located in Suzhou, Xuzhou, and Nanjing, the capital city of Jiangsu province, reads the announcement published on October 8, 2021.

The measure responds to a notification from the National Development and Reform Commission of China published on September 24. This institution included cryptocurrency mining in its list of prohibited industries.

READ more:  Bitcoin network fees soar and reach the highest value in history
China continues to chase Bitcoin miners. They could be hidden in data centers in Jiangsu. Bitcoin resists dying in Chinese territory, although it is increasingly difficult to exercise mining.
The availability of hydroelectric power at a low price is favorable to the exercise of mining in China. // Source: Wikipedia.

Evidence of underground Bitcoin mining in China

According to the ACJ statement, they have identified 136.77 megabits per second (MBps) related to Bitcoin mining farms and identified 4,502 involved IP addresses.

Processing power, measured in hash rate per second, stands at ten petahashes, while energy consumption is 260,000 kilowatts per hour (kWh) per day, according to the ACJ.

In recent weeks, China has been tightening its bans against Bitcoin and mining, sparking a new exodus of miners. Equipment even was confiscated, and cryptocurrency-related websites access was blocked. This event could have to do with a possible energy crisis that prevents China from sustaining the mining of Bitcoin and cryptocurrencies, an intensive activity in terms of electricity consumption.

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The information expressed in this article is solely those of the author and do not necessarily reflect the vies of CryptoDeFinance.  Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.
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Bruno Marques

Hi! I am the CEO/Founder of Crypto DeFinance, and I am an Enthusiast crypto investor. I started this project so we can provide you with carefully curated news. If you like us and our news, share the posts and comment. Your visit and interaction is very important to us.
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