Chinese Hydroelectric strike Could Herald the Demise of economical Bitcoin Mining – Bitcoints

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Published on November 14th, 2017 | by bitcoin

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Chinese Hydroelectric strike Could Herald the Demise of economical Bitcoin Mining

Chinese Hydroelectric strike Could Herald the Demise of economical Bitcoin Mining

Mining

Chinese bitcoin miners are the latest tranche of the country’s cryptocurrency community to be hit by restrictions.
According to Beijing’s Caijing magazine, hydropower stations have been ordered to cease all supply of electricity to customers involved in bitcoin mining.
Bitcoin mining has long been beyond the preserve of hobbyists, meaning that the only entities affected by the utility company crackdown will be operators of large mining farms.
Bitcoin mining provided a solution to that wastage, enabling hydro stations to make money and providing miners with cheap electricity.
If hydroelectric plants heed the warning, it could herald an end to cheap bitcoin mining in China.

Source: News.bitcoin.com

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