The hidden crypto mining industries in China to be shut down

Syed AhadWeb Editor

16th Sep, 2021. 08:05 pm
crypto mining

Hidden businesses of crypto mining in China are to be shut down by Chinese authorities that have masked themselves as data researchers or storage facilities.

Checking is being carried out across numerous Chinese provinces in colleges and research organizations.

Concerns about the lack of potential power for the upcoming winter are one of the causes for this increase in the country’s restriction on crypto mining.

Earlier this year, China has been taking strict actions against the mining industry shutting down the operations in areas like Qinghai and Sichuan, which are rich in coal and hydropower that miners are using to fuel their operations.

In response, several miners have shifted their systems to the U.S. and Kazakhstan, wanting to be among the most favored destinations.

Those who stay in the country are looking to take more clever steps to remain operating while escaping inquiry from authorities.

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