Anhui province in China plans to shut down all crypto mining projects within the next three days due to a power supply shortage. It will mean more trouble for crypto miners.
The crackdown on Bitcoin mining in China has been going on for some time. Now a report by hf365.com, says Anhui province is currently planning to develop new projects that will require large amounts of power consumption and for the same, they plan to halt bitcoin mining to conserve energy. The province is going to build data centres in an orderly manner, according to the news portal. It did not mention the source.
China has been regularly taking action against the cryptocurrency industry and particularly again crypto miners in its country. This has affected Bitcoin severely as the premier cryptocurrency is currently at the lower end of $30,000 after a colossal $65,000 at the end of April.
Recently, Ya’an, a city with abundant hydropower, is also sweeping actions against Bitcoin and mining operations. According to a government source, the city will root out all such operations within a year. In addition, the province has also started a probe into illegal electricity use by Bitcoin mining companies.
Inner Mongolia has also vowed to shut all crypto mining projects by April.