According to former Chinese cryptocurrency producers, power suppliers in China's Sichuan province were ordered to stop supplying electricity to these companies by Sunday.
EFE.- Several regions in China suspended cryptocurrency mining operations at the behest of the Chinese government, which has launched a campaign against these activities due to their high electricity consumption, local press reports today.
The bitcoin fell below $30,000 on Tuesday (22.06.2021) for the first time in five months, hit by the measures in China against the world's most popular cryptocurrency. At around 12:30 GMT, the bitcoin lost 9% of its value to $29,624 and reached its lowest level since January.
"Concerns over the Chinese government's tightening measures and fears that the acceptance of bitcoin and other cryptocurrencies will come late because of their impact on the environment are weighing on the market," commented Fawad Razaqzada, an analyst at ThinkMarkets.
According to the Sohu news portal, the central province of Sichuan - one of the country's main hydropower producers - has been the latest to issue an order to halt such operations, after Qinghai (central-west), Inner Mongolia (north), Yunnan (south) or Xinjiang (northwest).
Chatbots, a weapon of digitization to boost banking services
Chatbots, a digitalization weapon to boost banking services
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