Chinese miners are blocked by maps and electricity payments

Ongoing investigations into money laundering in the Chinese telecommunications and crypto industries have led to the fact thatbitcoin miners are faced with the hassle of paying bills for electricity, as banks freeze cards through which they have passed the charts

According to the local news agency, in a tweet dated November 16, 2020, 74% of the surveyed miners said that they had already collided with the sounding overheads.

As the Chinese government is cracking down on theexchange of crypto and legal currency, Chinese miners are facing a major problem in paying electricity bills. 74% of the miners surveyed told Wu that the payment of electricity bills has been greatly affected. pic.twitter.com/Sqi8DkP5zb

— Wu Blockchain（Chinese Crypto Reporter） (@WuBlockchain) November 16, 2020

If some users cryptocurrency in ChinaThey can store their assets in stablecoins, so that the miners need yuan to pay bills and other operating expenses. The lack of access to the fiat has become another obstacle for the bitcoin miners of the country who have not lost it from the water, in order to get rid of the bloom.

After the halving in May 2020, the award forthe block was 6.25 BTC, which is 50% less payout for the next four years. Due to the decrease in profits for the block of operations on mining, at least they should be uninterrupted, and ideally more efficient due to cheap electricity and high-power hardware.

Despite the fact that China is stillthe leader from the point of view of the bitcoin global hashrate, new difficulties can lead to the migration of miners to more pleasant regions. According to the Cambodian Bitcoin Electricity Consumption Index (CBECI), China is the leader in the production sector with 65.08%, the USA and Russia take two and a third and a third of 7.90%.

From September 2019 to April 2020, the BTC hashrate in the United States increased by 78, ЗЗ%, while in China during the same period, a decrease was observed.

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