Authorities of Baoshan’s city in Yunnan province in China have ordered to local electricity producers to cut power to the crypto miners.
Several miners had informed about the issue local crypto journalist Colin Wu, sharing scanned copies of official order given to power producers.
China has been cracking down on crypto businesses as the central bank prepares to launch the digital yen. However Colin Wu belives the ban is probably local initiative and does not indicate crackdown to crypto mining on the part of central authorities.
“There is no need to overestimate the impact of this incident. It is more because of the demand for economic interests than political pressure,” Colin Wu twitted.
Yunnan is the third largest mining place in China after Sichuan and Xinjiang. The province represented 5.42% of the global hash rate — ranking it above all countries except for China, the United States, Russia, and Kazakhstan.