A report from China suggests that several Bitcoin mining operators in the province of Yunnan have been cut off from electricity suppliers.
As originally reported by Cointelegraph, a local reporter from China received a document that allegedly showed that some miners in the province had been cut off from local power producers.
According to Wu, electricity producers in the city of Baoshan in Yunnan were ordered to stop supplying power to various miners in the region. The reporter also claimed that Yunnan is the third largest Bitcoin mining region following Sichuan and Xinjiang – which are renowned as major hubs for cryptocurrency mining operations in the country.
In the following thread, Wu suggested that the incident was par for the course in China, where different provinces often change their attitude towards the cryptocurrency mining industry.
“There is no need to overestimate the impact of this incident. The attitude of China local power companies towards crypto mining is often changing. It is more a demand for economic interests than political pressure.”
Hashrate drop noted, but may not be correlated
A quick glance as the global Bitcoin hashrate on Blockchain.com shows that there has been a slight drop off over the past 48 hours. While this may not be directly attributable to the cut-off of miners in Yunnan, it is worth noting the percentage of the global hashrate that the region produces.
The Cambridge Bitcoin Electricity Consumption Index shows that China still accounts for 65% of the global Bitcoin mining hashrate. The data from the mining map also has a China-specific breakdown, which lists Yunnan as the fourth biggest contributor to the world’s hashrate, at 5.42%.