An official statement from the government of Changji Prefecture in Xinjiang said that officials from the Zhundong Economic-Technological Development Park must instruct bitcoin miners to cease operations. China’s Xinjiang province is a highly concentrated region of bitcoin miners and bitcoin activities in the park must cease by June 9, according to the document. Even so, the Bitcoin network’s hashrate was significantly higher today than last week’s average.
Bitcoin miners at the development park in Xinjiang have announced that they will cease operations after the meeting of the Sichuan energy official
There have been a number of reports from China suggesting that Chinese government officials have not been too keen on the crypto mining sector lately. Bitcoin.com News has covered a number of reports associated with the country that show a possible crackdown on Bitcoin mining in mainland China.
For example, Huobi and Okex announced that the companies would limit certain services to Chinese residents, and then Btc.top and Hashcow discontinued services to China. Rumors of “cheap” mining platforms surfaced and talks about massive migration of Chinese miners to Central Asia began to be on trend.
On Wednesday, The Block’s Wolfie Zhao reported on a notice seen and verified by the publication, which suggests that a development park dedicated solely to Bitcoin mining operations has been closed.
“According to the notice viewed and verified by The Block, development park officials have been ordered to cease all crypto mining activities under their management by 2:00 p.m. Chinese time on Wednesday,” Zhao said in the report. The development park in question happens to be the Zhundong Economic-Technological Development Park.
Statistics show that there is a deep concentration of bitcoin miners in Xinjiang and Sichuan. How much hash power is in both regions is unknown, but many people assume that it is a lot of computing power.
Interestingly, the announcement Zhao received follows the recent meeting of the Sichuan Energy Official to discuss the impact of Bitcoin mining in that province. In addition, a number of mining companies from China have said operations could be relocated overseas if the raids continue.
Bitcoin hashrate is increasing, top five mining pools come from China
Despite the announcements and government officials in China talking about Bitcoin mining, the network’s overall hash rate has skyrocketed. By June 2021, Bitcoin’s hashrate rose to 180 exahash per second (EH / s) after hovering just above the 150 EH / s range last week.
Amusingly, the top pools from China Poolin, F2pool and Antpool have been battling for number one in the past few weeks, with some shuffles for the top spot along the way.
Today, Poolin controls 15.2% of the Bitcoin hashrate, F2pool records 14.5%, and Antpool has about 13.1%. The five largest pools processing SHA256 blocks in the BTC chain today are all from China.
What do you think of the message to bitcoin miners operating in the Zhundong Economic-Technological Development Park? Let us know what you think on this matter in the comments below.
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