In line with a recent report by native media outlet ‘Sina’, the Chinese state authorities of Sichuan province are be going to investigate native Bitcoin [BTC] mining farms that are been allegedly operational.
Situated at the bitcoin “global mining capital” of Sichuan, the bitcoin [mining farms] with around 30,000 bitcoin miners are reportedly been constructed without any approval from the native authorities, and are so subjected for additional examination.
Moreover, the alleged illicit mining farms are situated along the Sichuan’s Dadu river, a renowned Chinese river that host the world’s largest embankment dam referred to as ‘Shuang Jiang Kou’, that is presently underneath construction. The site supposedly offers affordable electricity prices for [mining] Bitcoin [BTC].
An official from the native enforcement group claimed that the authorities are still investing this matter and failed to disclose any additional details on this matter.
The Sichuan province has been establishing itself as an international bitcoin mining capital since 2017, mainly due to its low electricity, low population density and cold climate. The province is one among the major Chinese sites favourable for ‘cryptocurrency‘ [mining], with the others including Xinjiang, Inner Mongolia and Yunnan.
The combination of of these sites formulates China’s mining power, with the country reportedly dominating the majority of the largest bitcoin [mining pools] within the world.
Just recently, China’s National Development and Reform Commission, a govt. agency answerable for macro-economic policies, has ‘added‘ that the authority is considering a complete ban on cryptocurrency mining within the country.