China orders closure of second-largest mining region. Regulators in Sichuan have issued a notice to all crypto-businesses in the region, calling for a swift end to mining activity and any related activities.
The Financial Administrative of the Sichuan province of China has issued a notice to its subordinates offices to guide miners to end their mining activities in an orderly manner.
The region makes up the second-largest mining region with 9.66% of all Bitcoin hash rate generated from the region. The mountainous region, cheap electricity, access to competent workers, and naturally cool climate makes it a hotbed for Bitcoin and cryptocurrency miners.