All Mining Farms in Yunnan Province China Shut Down Amid Chinese Crackdown
China is not to take on a lighter note when it comes to the current crackdown that it has proposed and has been riding with full intensity. There is a lot to discuss the crackdown, such as what was the early motivator for China to deem it as a necessary option against miners when the country could enjoy a growing and bustling market in crypto mining? The answer lies in the fact that China needed to vent out its energy usage and reduce its carbon footprint significantly, so the idea of a crackdown against miners was put into context; another thought on the subject is the ultimate fear against crypto taking wind in the region.
Whatever the reason might be for China to engage with this crooked behavior towards a flourishing market which now is nothing but a barren land spewing wreckage and nothingness as far as the eye can see. All major mining farms that remained operable in China, especially in the Yunnan province, have been closed at the same time, which is pretty odd but also speeds up the current motive of China, which is to uproot crypto mining from its land indefinitely. The main reason why Yunnan enjoyed the company of so many mining farms in the vicinity was the availability of an incredible hydropower facility down there.
It used to provide enough power for the mining operation to continue without any hindrance, but now not even the hydropower plant is feasible as these serve no purpose being tainted as the accessory to the crypto mining, which is subjected to a strict crackdown by the Chinese government at the moment.
In early June, according to a source, there were talks of inspecting the hydropower plants for general labor safety and of ensuring that all practices are in sync with the current environmental rules and policies of the state, but it couldn’t go through, why? Because China was adamant about closing the whole factory that included Bitcoin mining farms and the hydropower plant, why bother with the inspection?