Media: Chinese authorities cut power to miners

The authorities of Baoshan city in Yunnan province have banned power plants from serving local miners. This was reported by journalist Colin Wu.

Several miners told Wu that Baoshan, Yunnan, where China’s crypto mines are located, received a ban on November 30, requiring the power station to stop supplying power to the miners. Yunnan is the third largest mining place in China after Sichuan and Xinjiang. pic.twitter.com/1zAhcTLmXi

— Wu Blockchain（Chinese Crypto Reporter） (@WuBlockchain) November 30, 2020

The province is rich in hydroelectric resources, and Baoshan concentrates computing capacity for cryptocurrency mining. According to Wu, the ban on power supply to miners took effect on November 30.

The journalist noted that overestimating the impact of this incident would be unwarranted. In his words, the attitude of Chinese energy companies toward mining “often changes”.

“This is more of a pursuit of economic interests than political pressure,” Wu wrote.

In the last 24 hours, Bitcoin network hashrate fell by 11.26%, to 121.9 EH/s. There is no data indicating that events in Yunnan contributed to this.

Data: BitInfoCharts.

Earlier, in June, authorities in Yunnan province closed 64 Bitcoin mines, citing safety requirements after a fire at one of the hydroelectric stations.

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