SHANGHAI/HONG KONG: China's crackdown on cryptocurrency"mining" has extended to the southwest province of Sichuan, where authorities ordered cryptocurrency mining projects closed in the major mining centre.
Friday's move in Sichuan - where miners mostly use hydropower to run the specially designed computer equipment used in verifying bitcoin transactions - suggests the crackdown is more broadly based. Sichuan is China's second-biggest bitcoin mining province, according to data compiled by the University of Cambridge. Some miners move their activities there in the rainy summer to take advantage of its rich hydropower resources.The notice orders state electricity companies in Sichuan to conduct inspections and make corrections, reporting their results by Friday. They are to immediately stop supplying electricity to cryptomining projects they have detected.
Other regional mining centres including Xinjiang, Inner Mongolia and Yunnan have ordered crackdowns on bitcoin mining.
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