Chinese City Cracks Down On Bitcoin Mining
In line with China’s policy to curb the Bitcoin mining industry flourishing in the country until now, a Chinese city that also sits on a huge hydropower resource has actively started to shut down all Bitcoin mining activities in the city.
The governor of China’s Ya’an city has said that he is committed to wiping out any Bitcoin mining activity in the region. In a meeting held in the city on Thursday, the officials said that they would be handing out warnings to companies and firms engaged in Bitcoin mining activities. It should be noted that China is where most Bitcoin mining takes place. It is estimated that over 60% of Bitcoin mining takes place in China, however, after the government’s crackdown a lot of miners are exploring options to shift to part of Europe and North America.