In several provinces of China, in early May, miners began to be disconnected from the power supply. In parallel, the country's authorities announced tough measures to suppress crypto mining.
According to Reuters, BTC.TOP and HashCow have already been suspended in China. Later it became known that the Huobi exchange reduced the list of services for traders from mainland China.
In addition, this crypto company closed access to its mining hosting for farms from the PRC.
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Authorities in some provinces, such as Sichuan, have said that the suspension of power supply to mining pools is caused by the risks of disrupting the supply of electricity to the population and strategic enterprises. In parallel, the officials stressed that they are also striving to reduce carbon emissions by reducing electricity consumption.
Bitcoin hashrate has been falling throughout the past week. Today this indicator is at a monthly minimum. The hashrate fell to 121.9 exaches per second (EH / s) on May 24.
Initially, bitcoin reacted extremely painfully to the announcement of the Chinese leadership about plans to strengthen control over the cryptosphere.