Authorities Shut the power down to stop BTC miners operations in Yunnan.
Reports have it that authorities are trying hard to stop BTC mining operation in Yunnan province as they order the stop of power supply to miners.
Major Update
- Power suppliers in the city ordered to shut down
- The government has been cracking down on mines because of tax evasion and security treats
- Yunan is the 4th largest mining region in China
Colin Wu, a cryptocurrency reporter in china, stated on Twitter that many miners had told him about this action, backing his tweet with what seems to be a document sent to the power suppliers.
Colin furthered that there is no need to stress the effect of the action as the ban does not seem like a means to halt the city's miners.
The incident seems to have happened alongside a one day dip in global hash power of about 10%. However, the two incidents don't seem to correlate in any way.
In June, Colin reported that authorities had called for about 64 unofficial mining operations to stop work in Yunnan, including seven that weren't completed yet, indicating security and how the facility was connected as reasons.
The shutdown comes from a hydropower facility section's explosion on the 29th of May, with 5 injured and 6 dead people. This incident was assumed to have led to more pressure on the enforcement of the safety standards.
Yunnan state grid released statement warning power suppliers against redirecting power to BTC miners.
What do you think about authorities shutting down electricity in the Yunnan province? Let's discuss this in the comment section.
