Chinese Mining Crackdowns Expand to Hebei Province

2021-9-14 20:00

The Chinese Government is continuing to work towards a greener future by barring crypto mining in the nation. 

According to a report by Reuters on Tuesday, the Chinese cyberspace commission in the Hebei province has agreed to work with other officials to break any cryptocurrency mines still operating in the region. This is the latest move by China in its cryptocurrency mining crackdown aimed at helping the country achieve carbon neutrality. A statement from the commission said that the department of education, department of public security, local financial regulatory bureau, and the communications administration will all be involved in the crackdown. Departments will have until the end of September to verify that their information systems are not supporting any type of cryptocurrency mining and/or trading. 

In an official statement, the commission says that “Cryptocurrency mining consumes an enormous amount of energy, which is against China’s ‘carbon-neutral’ goal.” 

The government has vowed to step up the collection of pertinent information from various whistleblowers and also tips from the general public. Starting in October, officials will regularly monitor the sector and levy harsh penalties on those who choose to ignore the ban. 

Fallout from the ban

The Chinese cryptocurrency mining ban has resulted in a significant migration of mining from the East to the West. Eventually, the migration could get to a point where North America becomes the world’s mining capital. 

Despite the sweeping bans, some in China have decided to tempt fate and continue operating cryptocurrency mining farms. Yunnan province is one area that has seen continued illegal operations. The province previously issued a strict block on using hydropower stations for cryptocurrency mining. Stations were banned from working with such operations while the farms must remove all mining machines from the area. 

The People’s Government Office of Yingjiang County also said that all townships and farms need to be supervised and report on the dismantling process to the County Development and Reform Bureau.

Due to the mass culling of crypto miners in China, operations have been forced to seek alternative locations to continue their work. Both the United States and Kazakhstan have become popular destinations for these displaced miners. Both countries offer cheap electricity and have favorable laws regarding cryptocurrency mining for now.

The post Chinese Mining Crackdowns Expand to Hebei Province appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Chinese Yuan (CNY) на Currencies.ru

$ 497552.86 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $476743.98 - H: $497552.86
Капитализация $0 Rank 99999
Цена в час новости $ 307222.51 (61.95%)

chinese mining expand province crackdowns hebei nation

Источник: beincrypto.com

chinese mining → Результатов: 126


Chinese Region Halts Cryptocurrency Mining Operations

In-line with a strict government crackdown on all things crypto, a small province in China is forced to shut-down illegal bitcoin mining operations in the region before August 2018. Mining Crackdown As reported recently on local news Jinse, the northwestern Chinese region of Xinjiang Uyghur has identified “illegal” mining operations taking advantage of the naturally cool, […] The post Chinese Region Halts Cryptocurrency Mining Operations appeared first on CryptoSlate.

2018-7-24 07:00


Фото:

By Semptember Chinese Region Will Close “Illegal” Bitcoin Miners

China’s Xinjiang Uyghur autonomous region is set to eliminate “illegal” bitcoin mining operations by the end of August, a government agency has confirmed to CoinDesk. “Local utility agencies and companies will be held accountable if they failed to shut down ‘illegal’ bitcoin mining operations,” the EIC writes. He said: “I have two partners (in the region):

2018-7-23 18:21


Фото:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Фото:

PoWx Seeks to Change Bitcoin Mining with “Optical PoW”

Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that utilizes a more advanced and energy-efficient form of laser technology as the cornerstone of mining.

2018-7-14 01:04


Bitmain’s Bitcoin Mining Company Evaluation is Near $12 Billion After New Funding

$12 Billion: The Value of Mining Giant Bitmain in the New Funding Round Bitmain, the Chinese bitcoin mining giant reportedly closed a Series B funding that valued the company at around $12 billion. Caixin, Chinese business media reported on Friday the equity financing was somewhere between $300 and $400 million, though it is still unclear […]

2018-7-7 23:43


Фото:

Bitcoin Hashrate Drops as China Floods Knock Out ‘Tens Of Thousands’ of Miners

Bitcoin network hashrate appeared to dip June 27, coinciding with reports floods in China had inundated and destroyed “tens of thousands” of miners.   Machines ‘Beyond Repair’ According to local Chinese media reports, the floods occurred principally in the country’s western Sichuan province, an area which accounts for around 70% of China’s mining output.

2018-7-1 19:00


Фото:

Mining Round-Up: Ebang Files for IPO in HK, Miner Arrested in China

In recent mining news, major mining chip manufacturer Ebang Communications has filed for an Initial Public Offering (IPO) in Hong Kong, a Chinese miner has been arrested for allegedly stealing 150,000 kilowatt-hours (kWh) of electricity in roughly one month, and a report has provided unique insight into the state of mining in the Russian exclave […] The post Mining Round-Up: Ebang Files for IPO in HK, Miner Arrested in China appeared first on Bitcoin News.

2018-6-28 12:55


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Mining Hashrate Just Saw Its Biggest Crash Since China Ban

On-chain data shows the 7-day average Bitcoin mining hashrate has just witnessed its largest plunge since the China ban back in 2021. Bitcoin Mining Hashrate Has Just Observed The Sharpest Drop In 3 Years The “mining hashrate” refers to a measure of the total amount of computing power that the miners have connected to the […]

Chinese Bitcoin Miners Still Operating Under the Radar

Chinese bitcoin miners are still operating under the radar, surviving by using off-grid power sources to protect their livelihoods. The post Chinese Bitcoin Miners Still Operating Under the Radar appeared first on BeInCrypto.

AntPool to Cease IP Access to Mainland China

Bitcoin mining pool AntPool announced that it would be ceasing IP access to mainland China on October 15. The post AntPool to Cease IP Access to Mainland China appeared first on BeInCrypto.

China Accelerates Search for Disguised Crypto Miners

The Chinese government continues its tough campaign against cryptocurrencies through new inspections to uncover disguised miners. The post China Accelerates Search for Disguised Crypto Miners appeared first on BeInCrypto.