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22 June 2021

China's Latest Bitcoin Crackdown Sees Exchanges Censored, Miners Go Offline

China's Latest Bitcoin Crackdown Sees Exchanges Censored, Miners Go Offline


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Chinese internet services are censoring bitcoin exchange searches and mining operations in China have reportedly been asked to shut down.

Major internet service companies in China, including Baidu and Weibo, are censoring keywords related to bitcoin exchanges, as verified by Bitcoin Magazine.

Though it is hard to determine how much of Bitcoin's hash rate is currently fed by Changji Prefecture's fossil fuel power plants, the Zhundong park has undeniably become a bitcoin mining hub.

Therefore, a shutdown of all bitcoin mining operations in the park might take a toll on the Bitcoin network hash rate.

In addition, China's recent regulatory crackdown on bitcoin mining and related financial institutions may incentivize miners to leave the country altogether –– a trend that had already started to brew

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