September 19, 2021

China's largest electricity supplier demands to stop mining

China's largest electricity supplier demands to stop mining

State Grid Corporation of China (SGCC) requires all mining centers.

The largest electricity supplier sent such a demand to all provinces of China. According to him, this will help solve the acute problem of power shortages over the next three years.

The number of farms for mining cryptocurrencies in China has already dropped to almost zero due to the ongoing repression by the authorities, which began at the end of May.

The East China province of Anhui is the latest region in the country to impose a complete ban on Bitcoin mining due to power shortages.

Restrictive measures of the authorities stopped work90% of large farms are for mining, as a result of which the capacity of the BTC network dropped by more than 50% within a month, and miners migrated to other countries. The hash rate of the first cryptocurrency network has already begun to show signs of recovery.

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