Breaking News: China To End Cheap Power To Bitcoin Miners – Bitcoints

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Published on November 14th, 2017 | by bitcoin

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Breaking News: China To End Cheap Power To Bitcoin Miners

Breaking News: China To End Cheap Power To Bitcoin MinersApparently, the general anti-Bitcoin stance of the Chinese government continues, with reports that the cheap hydroelectric power being used by the largest Chinese Bitcoin mining facilities may soon be a thing of the past, according to local media.
The statement regarding the cessation of cheap mining electricity indicates that the Sichuan Electric Power Company has issued a circular indicating that it will no longer provide the necessary power from its grid-connected hydropower stations.
The circular suggests that Bitcoin mining is ‘illegal operation.’ The circular has yet to be confirmed.
Bitcoin using surplus, government still squeezingThe statement from the power companies does not reflect the general feeling of miners, according to the article.
Nevertheless, the supply cut off is coming from both sides, as the province has declared both a ‘no new power plants’ policy, as well as acquiring all existing power plants.

Source: Cointelegraph.com

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